Does your life insurance policy still fit your life? Change is all around you, sometimes subtle, sometimes abrupt. What fit your life yesterday may not fit your life today. Whether you have life insurance or not, there is never a bad time to do a policy review. It only takes a few minutes to find out if you've outgrown your current policy or to find out how much life insurance you really need. By reviewing your life insurance you will get answers to questions like: Is the death benefit large enough for your family to maintain today's standard of living? How much are you paying for life insurance and can your goals be met more efficiently? Are your beneficiary designations up to date? As our population lives longer, life insurance rates are decreasing. You may be able to replace your old, more expensive policy with a policy providing more coverage for less money. Please call us for a no obligation review.
A type of life insurance policy that is not whole life or written to cover the whole remainder of the insured's lifetime, but instead is written to cover only a period of time. Often that period of time is a set number of years, such as 10, 20 or 30 years. At other times, the policy is written for a term that expires at a specified age, for example, when the insured turns 65. This is the most inexpensive form of life insurance.
Universal or Whole Life Insurance
A policy that provides a combination of monthly term life insurance plus possible savings in an arrangement that provides limited flexibility as to death benefits and premium payment. The policy can be tailored to remain in force during the entire lifetime of the insured and has a cash value build up that can be borrowed against or cashed out when the policy is terminated.
Mortgage Protection Insurance
A life or disability insurance policy designed to pay off the balance due or make the monthly payments on a mortgage if the insured should be injured, become ill, or die.