Life Insurance Information
You don't buy life insurance for you, it's for the ones you love. It provides the peace of mind that if you don't come home one day, your family can continue on without you. Most people vastly under-estimate the amount of life insurance they need. It's important to remember that if you're gone, your family will still have things like tuition expenses, mortgages, car payments, insurance, not to mention your funeral arrangement costs. Life insurance is simple. It's money if you die. The only hard part is determining what type of life insurance, and how much.
Term Life Insurance
For Term Life to be effective, you need to buy it when you're young. It should be used to protect children and your spouse during the "working years" and before you children start making a living for themselves. Typically a young person can buy Term Life for pennies a day, and even with some health issues, most people can still qualify.
Whole Life Insurance
Whole Life is a permanent life insurance policy offers you coverage for life. Whole life policies come in several forms like Universal Life, where your premium and cash value can vary, Index Universal Life, where you make money based on the stock market and other investment vehicles, final expense, designed specifically for end-of-life expenses, and traditional Whole Life, which is just a standard insurance policy This policy can also build equity and offer cash value.
Regardless of age, Life Insurance is always a good idea. A broker can help make it affordable, and can build a life plan for you that protects you, your family, and your life. When you're ready, talk to a broker to determine if it’s right for you, or you can request a quote.