Providing for your family's needs when a crisis upends your original plans.
When Choosing Life Insurance
What Is Term Life Insurance
What About Whole Life Insurance
There are three types of Permanent Life Insurance: Whole Life, Universal Life, and Variable Universal Life. Permanent Life Insurance differs from Term Life Insurance as Permanent Life Insurance builds equity. It can be compared to the difference between renting your home and buying your home. Permanent Life Insurance is designed to be active throughout your lifetime.
Life Insurance Is For Those Left Behind
The purchase of life insurance is one of the most selfless acts you can make for your family. In case of the event of your untimely passing, the death benefit is paid to your loved ones, (beneficiaries) without tax implications. The death benefit can be used in any way your beneficiaries see fit. It allows your loved ones to continue living (at least monetarily) in the way they had become accustomed.
How Much Insurance Is The Right Amount
This is the question that life insurance “experts” have batted around for years. There is an old cliché, 10x’s your annual pay. In my opinion, the right amount differs from person to person. You could probably never error with too high of a death benefit, but too high of a premium/cost is not what you want either. It’s always best to communicate what you want the insurance to do for your family and proceed from there.
Tips To Save Money
Save by Your Choices, Not By Cutting Quality
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Learning Center FAQ's
You may designate a trust as your beneficiary. There are advantages and disadvantages when listing your beneficiary as a trust. It is always a good idea to meet with a financial advisor when making your beneficiary designations.