Read the Vistaplan Financial Group blog: Universal Life Insurance, Term Insurance, Disability Insurance, Critical Illness Insurance, Super Visa Insurance.
Posted: 21 Nov '16
When researching life insurance policies, you’re likely to come across policies offering "term life insurance" and "universal life insurance". In order to ensure you get the appropriate policy, it’s paramount to understand both types so that you can make an informed decision. Indeed, these are two very distinct policy options and the features that make them unique are important.
• 10 years: In general, this option provides the most coverage for the least amount of money. The policy expires after ten years so renewing coverage may cost more. This option is Ideal for young families on a budget.
• 20 years: Affordable coverage that is especially good if you hold a mortgage, have children who will be dependent for 10 or more years, and have no plans for retirement within ten years.
• 65: The term for this type of insurance is not 65 years; rather, it covers you until you turn 65. If you want coverage throughout your working years, this may be the perfect choice.
• Flexible: Allows you to choose from 10-40 years so you can have coverage for your most productive years. Life insurance companies are making this type of policy more common.
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.