Life Insurance

Life insurance is the foundation of financial security for you and your family. The purpose of life insurance is to protect your survivors in the event of your death, and to provide for them financial security so they can make a comfortable adjustment.

In a broad sense, there are two types of life insurance:

• Term insurance is designed to provide a defined benefit for a specified period of time. It is the least expensive type of life coverage.
• Permanent insurance is designed to provide a specified benefit, which can be changed if desired, and is meant to last for your entire life. There are many forms of permanent insurance, such as whole life or universal life.

Term insurance is ideal for a specific level of financial protection for a known period of time: mortgages, getting kids through college, business key man coverage are examples.

Permanent insurance, which is more expensive than term, builds value over time, giving the policyholder the option of increasing cash value and/or increasing the death benefit. This type of coverage can even reach a point at which premiums can be suspended, leaving the policy in place with its own value papying for the insurance. This type of coverage is designed to last throughout the entire life of the policyholder.

Often a combination of term, to cover short term needs, and permanent insurance, to cover the balance of the policyholder's life, is an ideal solution. In many cases, if properly designed, as time proceeds, the term policy can be reduced in benefit level, while the permanent plan can be increased.

For a free no obligation life insurance quote, please fill out our life insurance quote form.