Why You Need Life Insurance
Buying life insurance is one of the best ways to protect your family against financial hardships. Unfortunately, many people don?t realize the importance that adequate life insurance coverage plays in a family?s financial well being. Talk with a us about your life insurance needs so you can protect your family?s future.
Did you know that life insurance can:
- Clear financial obligations in case of death
- Ensure that mortgage payments are met
- Guarantee a fixed income for a surviving parent with young children
- Solve certain tax problems
- Provide a method for a closed corporation to liquidate stockholder interests
- Fund a business buy-sell agreement
- Provide children with college education
- Plus, many other benefits
Whole Life Insurance
is a stable insurance program with guaranteed death benefits, tax-deferred cash accumulation and the flexibility to meet a wide range of financial goals. Whole life insurance guarantees that your premiums will never increase, your death benefits will not decrease and your coverage won’t expire regardless of your age or health. This policy increases in value as cash accumulates. And, unlike other types of whole life insurance, this policy can pay dividends.
Understanding Life Insurance
Universal Life Insurance?is a permanent life insurance program that provides flexible premiums and an option of two adjustable death benefits. It also accumulates cash values and offers competitive tax-deferred interest. Loans and withdrawals are available on a tax-favored basis.
Term Life Insurance?offers low-cost protection for a specified period of time. It is a temporary solution to a short-term need such as a housing loan, business expansion or large debt. This type of policy provides large death benefits at an initial low premium that increases as you get older. Some term policies, however, have an option that allows you to convert the policy into permanent insurance up to age 70.