Life
THERE ARE MANY KINDS OF LIFE INSURANCE, BUT GENERALLY THEY FALL INTO TWO CATEGORIES: TERM INSURANCE AND PERMANENT INSURANCE.
WE CAN HELP YOU DECIDE WHICH OPTION IS BEST FOR YOUR NEEDS.
Term Insurance:
The most affordable type of insurance when initially purchased, is designed to meet temporary needs. It provides protection for a specific period of time (the “term”) and generally pays a benefit only if you die during that term. This type of insurance often makes sense when you have a need for coverage that will disappear at a specific point in time. For instance, you may decide that you only need coverage until your children graduate from college or a particular debt is paid off, such as your mortgage.
Permanent Insurance:
By contrast, provides lifelong protection. As long as you pay the premiums and no loans, withdrawals, or surrenders are taken, the full amount will be paid. Because it is designed to last a lifetime, permanent life insurance accumulates cash value and is priced for you to keep it over a long period of time. It’s impossible to say which type of life insurance is better because the kind of coverage that’s right for you depends on your unique circumstances and financial goals. Often, a combination of term and permanent insurance is the right solution.
Click below for a downloadable PDF that will help you determine your needs.
For immediate assistance please contact us directly: 858.779.2486