Life Insurance 101

Your coverage needs depend on factors such as your age, your financial strength, and your family’s circumstances. In general, the earlier you are in life and the more financially dependent your loved ones are on you, the more coverage you need. Contact us for more information. We have online tools that might help you determine your needs. 

Like whole life plans, most term life plans have a fixed premium and fixed death benefit. However, whole life provides benefits for the rest of the insured person’s life, whereas term life only lasts for a specific period of time. In addition, a whole life policy includes cash value, whereas a term life policy only includes the death benefit. On the other hand, term life has a lower premium per dollar of coverage and significantly larger death benefits are available.

Whole life and universal life are both types of permanent life insurance, so they have many characteristics in common. Both whole life and universal life provide a death benefit for the rest of the insured person’s life. The main difference is that whole life has a fixed premium and a fixed benefit, whereas universal life has more flexibility — but that flexibility also comes with more risk, as the premium might increase.

There are many factors that should be considered in choosing life insurance, including short-term and long-term cost, coverage and cash value. Life insurance is meant to give you peace of mind, not to put a strain on your budget. We can work with you to identify an affordable life insurance policy that meets your family’s coverage needs. 

You should discuss your unique situation with an agent and build a policy that will protect your family. Contact us online to start the conversation. 

Anyone who has lost a member of their family knows how difficult loss can be. The emotions are overwhelming.

However, one really doesn’t have time to grieve because you need to deal with the financial implications. Plus, the cost of a funeral adds up quickly. The last thing you or your family needs is to worry about the funeral expenses. That is why planning ahead is critical.

Burial insurance or final expense insurance is a basic life insurance policy that covers people until they reach the age 100. It is an easy insurance to obtain. Depending on the policy, burial insurance or final expense insurance gives your family the ability to cover the expenses of a funeral and potentially other outstanding expenses.

Besides the protection that a final expense insurance policy offers, its never changing premiums and permanent coverage makes it a wise investment for your future.

Expensive funerals

Funeral costs can add up, especially if you consider the:

• Funeral service
• Cemetery plot and headstone
• Cost of casket
• Funeral procession
• Miscellaneous costs

These costs can quickly add up, making burial insurance a smart and pre-emptive decision. Don't make your loved ones worry about expenses. Call today to learn about burial insurance or final expense insurance policy so your family doesn’t have to worry about it tomorrow.

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