Life insurance is a risk management tool that can be used by individuals to protect family and loved ones in the event of their untimely death, or it can be used by businesses to protect business shareholders, key employees, and business purchases and mergers from the untimely death of a shareholder, key employee, partner, or new owner. There are many options when looking at life insurance policies, but the two basic categories are term life insurance and permanent life insurance. Term life insurance covers an individual or business for a period of time, whereas a permanent life insurance is meant to insure an individual or business for a lifetime. There are other benefits of each that we are happy to talk with you about.
Whether you are an individual looking to cover your mortgage for you family, or a business partner looking to cover a buy-sell agreement, we can help you find the best coverage and the best price. Our insurance companies are among the best and most financially stable in the country. Give us a call today to discuss how we can help you with your life insurance needs.
Term Life Insurance
Term Life insurance is life insurance that is purchased for a term, or period of time. It is a less expensive option to permanent life insurance that can insure an individual or corporation for a specific period of time that is necessary. Some examples of this would be covering the term of a 30 year mortgage, or covering the sale of a buy-sell agreement, where the seller requires the purchaser to carry a life insurance policy for the buy-out time frame. There are many other applications for term life insurance, and many endorsement, or rider, options as well. If you are looking for a term life insurance product give us a call. We are happy to discuss with you the prices and options with the many different carriers we represent, all of which are the highest rated.
Whole Life Insurance
Whole life insurance is a permanent life insurance product that offers guaranteed returns through dividends. Also, the life insurance piece remains at a constant level from the date of purchase. These policies are typically offered by mutual insurance companies, and are of the highest quality life insurance when purchased from a strong financial institution. Whole life insurance can be used for the same applications as term life insurance, but they are permanent, which means they can be paid off and kept for their equity value, or for the death benefit. In some cases these policies can be used as collateral for a loan or as a retirement supplement. We offer the largest and most well respected whole life insurance companies. Call us today to discuss whole life, and we will help you determine if it is good fit for your financial plan.