A Life insurance policy is designed to help ease financial burdens for your loved ones. Life Insurance provides your surviving beneficiaries with a valuable death benefit which they can use to replace some of the income you would have earned for a specific number of years, or to pay off debts such as a mortgage. Life insurance can provide money to pay burial costs, estate taxes, and pay to help take care of an elderly relative, or young children. In addition, your life insurance could cover college tuition expenses, or provide a retirement income for your spouse or other beneficiary. It is important that you take into consideration all of the possible expenses that your loved ones could be left with, so that you can obtain the right amount of coverage. Ideally, you should review your policy annually, especially if your circumstances change significantly.
When you are considering purchasing a life insurance policy, it is beneficial to spend some time weighing your options with a Licensed Professional – particularly if you are not familiar with the different types of life insurance policies available to you. To get started, we would take some preliminary information from you to help you to decide which is the best life insurance policy for your needs. There are two types of life insurance – ‘Term’ and ‘Permanent’. There are numerous factors that must be taken into consideration when deciding on which policy is right for you, and we know that some of the required information is personal.