Protect Your Family

 

You and a life insurance policy have similar purposes in this world. It is your job to provide food, clothing, shelter, schooling, medicine, and other things for your loved ones. You do this while your policy lies safe in your files.

Someday (and who knows when) you and your policy will change places. When you are laid to rest, I will come alive and do your job. It may provide food, clothing, shelter, schooling, medicine, and other things your family will continue to need – just as you are doing now. When your work and labor are done, the policies work will begin. Through it, your hands can carry on.

Life Insurance comes in two flavors: Term and Permanent.

The differences between the two are pretty simple- Term insurance is for IN CASE you die. Permanent insurance is for WHEN you die.

With term insurance your family is protected temporarily, up to 30 years depending on your age now. If you have large liabilities and people who depend on you i.e. student loans, mortgage, and/or a family that requires your income, then term insurance allows you to cover most if not all of those liabilities for a relatively low premium.

Permanent insurance is coverage until the day you die as long as the premium schedule is satisfied. There is a “savings like” account tied to this and it will grow over time as you pay your premium. This growth can vary depending on the contract but it all grows tax deferred in the form of cash-value and can be taken out tax-free to supplement your retirement income.

Some people use permanent insurance for simple burial expenses, others for estate planning, long-term care planning, and retirement income planning.

Check out the chart below to easily compare.

 

 

More Short Content

Did you know that you could guesstimate when you die?

OR

What would you do if you knew when you were going to die?

Check out this life expectancy calculator: Life Expectancy Calculator

 

Find out your life insurance needs without being up sold by an agent.

Click here for a fillable Needs Analysis to share with your insurance agent.