insurance guide

Term life insurance is the most basic type of Life Insurance. You can purchase it for a specific length of time, Typically From 5 to 30 years. Depending on the policy, your premiums can either remain the same for the length of your policy, or they can be re-adjusted after an initial period.

Here are some reasons why people buy Term Life InsuranceIf you have a mortgage – the death benefit from the policy can be used to pay off your mortgageIf you have young children- the income earned by a significant household wage earner will not be disrupted in the event that the insured dies. Household expenses can be paid and your beneficiaries’ current lifestyle maintained.It can pay for children’s college – in the event of your untimely death.

Universal life insurance  Universal Life Insurance provides protection for your family and assets. Unlike Term Life Insurance permanent or Universal Life is designed to provide insurance protection for a lifetime at a level premium. As long as sufficient insurance premiums are paid, it stays in effect. Universal life insurance also builds cash value, money that you can borrow against to help meet future goals, such as paying for a child’s college education.

Long term care insurance
Long-Term Care provides the assistance you need when a serious illness strikes or a disability renders you unable to care for yourself over a lengthy period of time. Long-Term Care can provide coverage while you recover at home, in a nursing facility or at an assisted-living facility. Investing in a long-term care plan is an important step towards securing peace of mind and financial security. Your plan should provide you with the maximum protection needed against potentially catastrophic costs of long-term health care, while protecting your savings and assets. 

Annuities and variable universal life  Annuities can help fund a retirement and can create a source of income for life. They can also be a vital component of your overall retirement savings plan because they allow you to save money on a tax-deferred basis. Annuities can provide you with a variety of income choices, including a guaranteed income that you can never outlive. In addition if you die before income payments begin an annuity can provide a death benefit.

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