Term Life Insurance is a type of insurance that does not have any cash value and the coverage will stay in force to age 80 or 85 with most companies. But the premiums will increase at the end of term you choose. If you choose Term 10, the premiums will increase every 10 years. You can choose the term from 10 to 30 years.
Disability insurance is important. It provides and income to protect you and your family in times of unexpected illness or accidents that leave you unable to work. It aids you in times like these where no income can be made. It’s important to note, disability insurance covers a maximum amount for a set period of time.
The right life insurance plan can help secure your babies’ future. Your child will begin to grow
up and a universal life insurance policy can help accumulate cash that can be a big help later on.
The accumulated cash value in the policy can help pay for post-secondary education, their first car, a down payment on a home, or even help them start a business.
Purchasing life insurance is important if you’re a parent, but it’s essential if you’re the only parent. If you’re the only financial resource for your children, it’s time to consider a family life insurance plan. Here’s what you need to know about the different types of coverage that are available.