Choosing the right insurance
Everyone needs life insurance. The question is, which kind is right for you?
Whole Life
- Provides coverage for your entire life and also builds cash and loan value with premium payments
- Premiums never increase during your ownership of your whole life policy
- Whole Life is generally more expensive than Term Life Insurance because coverage lasts a lifetime
Term Life
- Term life insurance provides coverage for a limited period of time
- After that period, policyholders typically pay increased premiums to continue coverage
- Term life insurance is usually less expensive than whole life insurance
Throughout your life, your insurance needs change. Events like marriage, the birth of your children, and retirement. Depending where you are in your life will determine which type of and how much life insurance is most appropriate for you. One of our hometown Agents can help you determine if you need whole life or term life insurance.
A life insurance benefit is generally paid to a beneficiary, in one lump sum. This can be done in one lump sum or monthly payments, whichever you choose. That means when you die, your designated beneficiary gets the money.
ShareThis
