People who are young, healthy and have a good family health history are likely to receive some of the lowest rates on life insurance. And it’s best to get it when you’re young because that is when you are most insurable.
So why not purchase it now? Life insurance can help you to:
- Provide financial support for loved ones who may depend on you now
- Create a strong financial foundation for your future
- Protect the family you may have in the future
Talk to an insurance professional to learn more about the value of life insurance.
Before you buy life insurance...
Your lifestyle and financial situation will determine what kind of life insurance you need. Do you need Term or Permanent? There is a difference.
Term life insurance provides coverage for a specific period, such as 10 or 20 years – or more. It can be renewed when the term is over, usually at a higher rate. However, it does not build a cash value.
Permanent life insurance offers lifelong financial protection as long as the policy’s premium is paid up until the death of the insured. It also builds cash value that’s funded by a portion of the premiums the policyholder pays. The policyholder can access this cash value, if needed, but any outstanding loans are subtracted from the death benefit when it is paid.
There are several types of permanent life insurance:
- Indexed Universal Life Insurance
- Whole Life Insurance
- Universal Life Insurance
They differ in whether the premiums are level or variable and how the cash value accumulates.
Talk to a financial professional today and find out what type of life insurance is best for you.