The Basics of Life Insurance
The Value of Life Insurance
Life insurance is about providing for the people you care about most. It pays them a sum of money you choose and may help protect them from the financial impact of your death.
These funds can help your loved ones pay monthly living expenses, stay in their home and pay off debts, including final expenses. It can also help send a child to college one day, continue a family business or leave a legacy for your favorite charity.
Life insurance may be right for you if…
You want to provide for your loved ones
Your family means the world to you and you want to help make sure they’re taken care of after you’re gone.
You want your family to stay in their home
You want to help ensure your mortgage is paid after you die so your family doesn’t have to leave the home they love.
You want to make sure your kids go to college
If something happens to you, you want to help your kids get a quality education…just the way you planned.
You don’t want to leave your family in debt
You know there may be bills to pay after you’re gone. And you don’t want your loved ones to have to pay your final expenses.
We offer two basic types of life insurance
Term Life Insurance
Provides affordable coverage for a specific period of time. Payment amounts don't change for the guaranteed premium period.
Typically, proceeds from a term life insurance policy may be used to cover needs like:
- Pay off the mortgage on your home
- Provide an emergency fund
- Help provide for a child's education fund
- Pay off personal debts
Permanent Life Insurance
Provides protection that lasts a lifetime or for the life of the policy. It may build cash value that can be used even when you are living.
Typically, permanent insurance is used to cover long-term needs like:
- Pay for final expenses
- Provide an ongoing income for your family
- Supplement retirement income
- Fund an estate or business continuation plan