Life Insurance – Your Most Important Policy

March 13, 2018

Wills, funerals, life insurance – they’re not exactly uplifting dinner conversation, but they’re important nonetheless.

Would your death leave your loved ones high and dry?

About 40% of Americans don’t have life insurance, but nearly everyone should. Life insurance guarantees money for your dependents to replace sudden lost income, funeral expenses, and more in the event of your death.

There are two primary categories of life insurance: term life and permanent life. Term life insurance provides coverage for a specified period of time, typically 10-30 years. You pay low, locked-in premiums for the duration of the term, but you get no money back if the term ends while you’re still alive. Permanent life insurance is in effect for your entire life, as long as you pay premiums as agreed. The cost is significantly greater, but it has a 100% payout rate, as well as a savings component that you can borrow against.

Not sure which type of life insurance policy is right for you and your family? Take a look at the infographic below, then give us a call at (360) 378-2949 to talk to one of our licensed life and health specialists.