The different types of Life Insurance generally fall into two categories: Term Life and Permanent Life.
1. Term Life Insurance
Term Life Insurance is the most affordable type of insurance available, It is designed to meet temporary life insurance needs; providing protection for a specified period of time, the term, i.e, 10, 20, 30 years. This type fits many who have financial needs that will diminish in time, such as a mortgage or tuition.
A premium is paid each year to cover the risk of death during that year. There is no cash value, it is only payable upon death. If death occurs, the beneficiary generally collects the death benefits of the policy, free of income tax.
Types of Term Life Insurance are:
2. Permanent Life Insurance
Permanent life Insurance provides lifelong protection. As long as premiums are paid, permanent life insurance never ends.. Also, with this type of insurance, there is a savings element that accumulates cash value over a period of time.
Types of Permanent Life Insurance:
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Whether you are Retired, Approaching Retirement, Starting a New Family or Single, Life Insurance is for you.
Have you cashed out some or all of the equity from your home and as a result will have a mortgage left to your spouse or dependents if you pass?
If your retired or nearing retirement you may think that you no longer qualify for life insurance due to your age or health conditions. That’s not necessarily the case. Americans 60 and over are amongst the fastest growing markets for life insurance.
You may be young and single with no dependents . If so you might be focusing on paying off your bills and saving money However, planning for retirement makes things less complicated and less expensive if planned in your earlier years.
LIFE INSURANCE
can be affordable and added to many people's finances without recognizing or feeling a change. It's time to become empowered and plan for your future.
Disclaimer
While The Lisa Davis Insurance Agency intends all information on the website to be reliable and accurate, errors do occur and we reserve the right to make any changes and/or additions to our site at any time.
email: LDavis@LDavisagency.com
www.LDavisAgency.com
email: LDavis@LDavisAgency.com
