Life Insurance
Life Insurance
Suppose you’re trying to decide which type of life insurance to get. In that case, the right solution will depend on your unique circumstances. Consider these features and benefits of whole, term, and universal life insurance:
Whole Life Insurance
Protection for life: Coverage lasts your entire life.-
Level premiums: The policy payment rate never changes.
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Cash value: Policy has growth potential.
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Guaranteed death benefit: The amount your beneficiary receives is secured.
Term Life Insurance
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Protection for a specified time: Like leasing a house, you pay for protection for the time you select (10-20-30 years)
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Affordable premiums: Only pay for the time you need to be covered.
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Convertibility: Can choose to convert your policy to a permanent insurance.
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Simplicity: Decide your coverage amount and term duration.
Universal Life Insurance
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Protection for life: The policy can be designed to provide coverage for your entire lifetime.
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Flexible premiums: Adjust your premium amount as your needschange.
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Cash value: Policy has growth potential.
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Choice: You can adjust the premiums and death benefits based on your needs.
What are some needs that life insurance could solve?
If you have a life insurance policy, you and your beneficiaries could cover the following events:
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Your children's college education.
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The settlement of your family's debts.
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The creation of an emergency fund.
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The full payment of your mortgage debt.
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The full payment of your funeral expenses.
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Replace your annual income when you die to ensure peace of mind for your family.
Explore which life insurance solution may be the right for you.