What Kind of Life Insurance Do I Need?
Life insurance provides financial protection in the event of the insured’s death. Benefits provided to the family or other beneficiary noted by the insured. It is a contract between the policyholder and the insurance company, in which the insurer agrees to pay a lump sum or regular payments to the beneficiary in exchange for a premium that is paid by the policyholder. Individual life insurance can provide financial security to those left behind, ensuring that they have the funds to maintain their lifestyle and cover any associated costs.
You may have seen commercials on TV advertising these new low rates on term life, but it can be difficult to know what insurance company to use. Instead of wondering if term life is even the correct type of coverage, get the information you need from our experienced agents.
Call us today at 1-800-767-3161 to schedule a one-on-one consultation to help you get started.
Term Life Insurance
Term life comes in many different forms, and as the name implies, it protects you for a set term of time. The coverage can be flat (the same benefit and premium every year) or decreasing (the benefit decreases over time like in mortgage insurance).
Whole Life Insurance
Whole life will provide a death benefit until the holder dies at any age. This type of coverage typically costs more but offers guarantees and cash-value, or an amount of money you can trade in the policy for at any time. As you pay into the policy, the cash value increases– and with a carefully constructed policy, you may be able to stop making premium payments in the future.
Variable Life Insurance
This is a type of cash-value coverage where your premium payments are invested in sub-accounts, similar to mutual funds. Variable life insurance lets you participate in the market in a way that can alter your premium payments. It’s not an annuity; rather, it’s designed to provide a guaranteed level of coverage.
Get a Life Insurance Quote
Speak to an experienced agent at Caton Hosey today by completing the form on the right or calling us directly at 1-800-767-3161.