Are your loved ones adequately covered? There is no question that your family is your most valuable asset. You can repair your home, replace your car, and rebuild your office building, but YOU cannot be replaced. That is why life insurance is the most important insurance product you buy.
Common Types of Life Insurance
There are many different types of life insurance policies available — the most common include the following:
Term Life Insurance, Whole Life Insurance, and Universal Life Insurance.
Term Life Insurance
Term life insurance provides protection for a specified period of time. Common terms are 10, 20 or 30 years. Term life coverage is often a good starting place as it’s cheaper than other permanent options. Furthermore, term life insurance is sometimes convertible to permanent coverage, providing you with flexibility as your needs change over time.
Whole Life Insurance
Whole life insurance is a permanent life insurance product that remains in force for your entire lifetime if the premiums are paid as specified in the policy. Whole life insurance allows you to lock in your age and your health at the time you purchase it. Whole life insurance can be used as an investment opportunity, as many whole life insurance policies also build cash value over time.
Universal Life Insurance
Universal life is also a permanent life insurance product and offers a lot of flexibility to the policy holder. It’s unique in that the face amounts and pricing structure can be adjusted. Universal life can also build cash value, which earns an interest rate that may adjust periodically. Most policies come with a guarantee not to fall below a certain percentage.
We offer life insurance to families located in Deland, Debary, Orange City, Deltona, Port Orange, Lake Helen, Ormond Beach, and New Smyrna Beach. We are also able to protect families throughout all of Central Florida. What type of life insurance protection is right for you? Let us help you decide which product suits your needs. Click here to get in touch!