Life insurance is a great way to make sure your family is taken care of should something happen to you. In addition to providing for your family, it can help with funeral costs and personal debt. No matter what your reasoning, life insurance can be beneficial in case of accidental death. But which kind should you choose? This guide details which types of life insurance are available, how each type works and how to find a life insurance agent.
- Term Life Insurance: When it comes to types of life insurance, term life insurance is one of the most popular. Buyers pay a monthly premium and the policy is good for a set amount of time. Should the insurer pass away during that time, the beneficiary will get the amount the policy is worth. On the other hand, should the term of the policy end before you pass, the policy ends as well. These plans are good for anywhere between five and 30 years.
- Whole Life Insurance: Whole life insurance is a permanent insurance so it doesn’t have a time constraint like term life insurance. The premium typically doesn’t change, but the policy doubles as an investment fund, allowing the insurance company to make investments to build cash value with the premiums you pay.
- Universal Life Insurance: Also a permanent insurance, universal life insurance is a flexible policy that can be changed throughout the life of the plan. You can choose to pay more than the required premiums and apply the cash value toward other personal investments. You can also earn interest.
How do I find a life insurance agent?
One great way to find affordable life insurance quotes is with the help of Serra Benefits. Let us show you rate comparisons and answer any questions you might have about the types of life insurance available in the market. We represent high-rated insurance companies and provide personalized services that ensure you won’t waste any time in selecting the proper policy for you and your family. Give us a call at 760-439-9700 or email specialist John Young to start the process today.