Learn How To Choose The Best Life Insurance For You
Life insurance selection can be quite confusing. We will help you
figure out what life insurance would best fit you and your family
Everyone has asked themselves this question at least once in their life. No one wants to leave their family with the burden of figuring out how to cover their final expenses or the debt they leave behind. When choosing which life insurance is right for you, there are two types to choose from: Term and Whole Life.
Term insurance is a form of life insurance that provides coverage for a specific amount of time, depending on the length the insured chooses. If the insured dies within their term period and has an active policy, their beneficiary will receive the total benefit amount.
Whole life insurance is a type of life insurance that covers individuals for their entire life, as long as they continue to pay their premiums. Premiums remain fixed and will not go up as long as there is no lapse in payments.Whole life insurance also has the added benefit of building cash value over time.
Final expense insurance, also known as burial insurance, is a type of whole life insurance. As the name states, its focus is on covering only final expenses, and the death benefits are much lower than traditional whole life insurance plans.
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