Why do I Need Life Insurance?
Life insurance can be used to protect the financial security of your family upon your death by providing them with a tax free lump sum payment. These funds can be used to pay off the mortgage, cover everyday living expenses, education savings, final expenses, etc.
The type and amount of coverage depends on your individual circumstances and needs. In addition, the cost of insurance will depend on your age, health status, and coverage amount.
I provide life insurance solutions for individuals and corporate clients:
- Key Person Insurance
- Buy/Sell Funding
- Term Insurance
- Permanent Insurance
- Medical and Non-medical options available
Types of Life Insurance
Term insurance is typically the least expensive type of insurance. It is ideal to protect temporary needs such as a mortgage. The rates stay level for a particular term. For example, a term 10 policy will have rates that stay the same for 10 years and then increase in year 11.
Permanent insurance is meant to provide insurance protection to cover a permanent need such as final expenses. There are many different types of permanent policies such as Whole Life and Universal Life. These policies can build cash values.