Read the Vistaplan Financial Group blog: Universal Life Insurance, Term Insurance, Disability Insurance, Critical Illness Insurance, Super Visa Insurance.
Posted: 1 Mar '20
One reason people often get scared of insurance is because they think it’s expensive. As a result, you may be missing out on valuable insurance for the wrong reasons. Insurance can help the people in your life that rely on you and let them know they will be taken care of if something happens. There are many things you need to know about affordable life insurance. Contact us today to learn more about affordable life insurance.
Life insurance provides you and your family financial security. It provides income to your beneficiaries, helps pay debts and final expenses, and can even help charitable organizations you care about. Not only do life insurance policies help your family in the event of your passing, but they can support your financial plans while you’re alive.
Term life is one of the most affordable options when it comes to life insurance. It provides a cash pay out in the event to death to cover the financial commitments for your loved ones. Step one you choose the type of term insurance that best support your needs. The types of term insurance are Term 10, Term 20 Term 30 or Term 40. Payments never increase for the entire length of the term you choose, that is until it comes time to renew. You can also convert to permanent life insurance. The monthly premiums for term insurance are very low. Term 10 will have the lowest premiums allowing you to purchase the largest amount of coverage. Term life is ideal if you have a young family, are a young adult, or are a business owner. It’s affordable, straight forward, and provides your family the cash they would need to continue should you pass away.
Participating life insurance also known as whole life, gives you lifelong protection and grows your wealth. This type grows your money tax-free over time. You can utilize the cash value throughout your life as long as your premiums are paid. Participating life is best for those looking for lifelong insurance coverage that supports their financial goals. Since this type lasts for a lifetime the premiums are higher than the term insurance but that is because you are building a cash value at the same time. Whole life insurance are plans often used to supplement retirement income and other important events such as your child’s education.
Universal life is flexible, cost-effective, and can be personalized to your changing lifestyle. It is ideal for people focused on obtaining flexible coverage that lets you start with a low premium and increase the premiums later, building cash values. You can also choose to keep the premium level all the way to age 100. If you choose to increase the premiums this investment component means you have an opportunity to grow wealth over time. It can fund financial goals or be left to your beneficiaries. It helps ensure your family can maintain a comfortable lifestyle.
Contact us today to learn more about affordable life insurance plans that provide the coverage you need to provide for your family.REQUEST YOUR INSURANCE QUOTE
David is a well-respected insurance advisor with over 30 years of experience helping healthcare professionals, business owners, and their families secure their financial futures. He takes the time to make certain his clients understand the life, disability, and health insurance products they are purchasing, so they can make the right choices for their budgets, plans, and futures. CONNECT WITH ME ON LINKEDIN