08/19/2025
You’ve heard that life insurance is good to have, but maybe you don’t know much more than that. You’re not alone! Read on to get answers to life insurance questions.
What is life insurance?
Life insurance provides your family with money to pay debt, funeral expenses and more if you die. You pay your insurance company a premium. In return, your beneficiaries (the people you select) will get the death benefit when you pass away.
Types of life insurance
• Term life insurance – is coverage for a specific amount of time (10-30 years). If you die during that time, your beneficiaries get the death benefit.
• Permanent life insurance – provides lifetime coverage that builds cash value, like how you build equity in your home.
How does life insurance work?
• For a term policy, select a policy term (10-30 years) and the amount of money you’d like your beneficiaries to get if you die during that time.
• For a permanent policy, if you make the required payments and don’t allow the policy to lapse, you’ll get lifetime coverage. Plus, you can access the policy’s cash value while you’re alive.
Do I need life insurance?
People need life insurance for lots of reasons. Here are the top five:
• Funeral expenses
• Wealth transfer
• Income replacement
• Mortgage pay off
• Retirement income supplement
To find out what type and how much life insurance you need, give me a call today and let’s talk!
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