Life

Types of Life Insurance

TERM:
The least expensive way to provide life insurance protection for your family. Most financial advisors recommend purchasing the least expensive policy you can find with an A Rated Carrier. They can be in force for the term you choose, which are normally: 5, 10, 15 ,20 or 30 years. These policies are designed to go away after the term period expires. The logic behind it is that as we age, the need for life insurance diminishes as our children are out of the nest and we have accumulated wealth and paid down or off many of our obligations.

PERMANENT POLICIES: UNIVERSAL LIFE, INDEXED UNIVERSAL LIFE, VARIABLE LIFE, WHOLE LIFE, MODIFIED WHOLE LIFE

PLEASE KNOW THAT NONE OF THESE ARE “INVESTMENTS”:
Despite how they look and may appear to act or are occasionally sold, these are life insurance policies. Each has its positives and negatives. They can cost much more than a term life policy, but they are designed to last much longer; often guaranteed until we pass on! In some circumstances, a combination of both may be appropriate.

We do sell these policies for when a client may have unique needs that merit one of these policies. If you are interested, please contact us today.

 

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