Life Insurance Term

When purchasing life insurance, you are often presented with the choice of term or permanent insurance.  The choices for term life insurance policies are typically 10, 15, 20, 25 or 30 years.  Choices for permanent insurance are usually whole life or universal life.  Universal life can be broken down further – traditional universal life, guaranteed universal life (with lapse protection) or variable universal life.  For whole life, you can purchase a participating policy, which pays dividends, or non-participating, which doesn’t pay dividends. When you first set out to  purchase life insurance, you thought it would be fairly simple.  However, being confronted with all these options can make one’s head spin.  Then, you start getting conflicting opinions from different sources – whole life is the best choice, buy only term life, buy term and invest the difference, etc., etc. I can make it fairly simple for you to make the right choice.  What are your needs for life insurance?  Are you interested in death benefit only or are you looking to accumulate some cash value with your policy?  Are you looking for coverage for a specified term or will you need life insurance for your whole life?  Once we determine the length of time you need the insurance, we then look at what product is the most appropriate for you

Original post:
Choosing the Right Policy for You

Written by Admin on August 24, 2010 under Featured, Life Insurance.

Comments