Financial Security for You and Your Family
Life insurance gives you piece of mind knowing your loved ones will be able to maintain their lifestyle if you pass away too soon. You can also make it an essential part of your overall financial goals to help you reach life’s milestones.
Qualifying for Life Insurance. Healthy young people tend to put off buying life insurance while they focus on school, marriage, children, etc. The truth is, the sooner you buy life insurance, the lower your premiums will be. That is because most life insurance policies require medical underwriting (medical exam) for approval and rating. While those in their 40’s and 50’s, even to age 60, will pay more in premiums, if they are nonsmokers in good health, they shouldn’t have an issue getting an affordable policy.
Different Types of
Term Life Policies
Term Life is one of the simplest, most cost-effective types of life insurance. Generally, it provides the largest immediate amount of protection for the lowest cost and pays a death benefit upon your death.
Term Life covers you for a set period of time, provided you pay the monthly premium, or in some instances, a lump sum in advance. The policy will pay to the named beneficiary the face amount of the policy (set benefit and/or lump sum) upon death of the insured within the stated term. Depending on the policy, it may also make payments upon terminal or critical illness.