Your Choice for Quality Life Insurance Policies

Life insurance is the best way to protect your family when you’re gone. Read more below, or contact Stan today to decide which Life policy best protects those who matter most.

nurse taking care of a person

Protection for Your Loved Ones

There is nothing more precious than your family and knowing that their future is secure. That is why having the right amount of life insurance is so important. No matter what your situation is currently, buying life insurance for the first time, nearing retirement, or looking to increase or decrease the amount of insurance you currently have, the right life insurance policy can offer you peace of mind. However, if you are like most people, you don’t know what the right life insurance plan is for you. Does whole life, universal life, or maybe term life insurance fit your needs best? How do you make the right choice?

What Type of Life Insurance Policy Should you Buy?

When your personal situation changes, you may need to re-examine your life insurance policy. If your income changes, you get married, or you have children, you may want to increase your coverage or purchase a different type of policy.

Types of Life Insurance Policy

The types of life insurance policies vary, offering individuals the ability to choose a policy that best fits their needs and life circumstances. There are two main types of life insurance:

Term Life Insurance

Term Life Insurance is primarily used for temporary coverage and is typically purchased for a specific amount of time. Once a term life insurance policy expires, you must re-qualify for coverage based on your current age and health conditions.

The premiums on the renewal policy will most likely be higher due to increases in the age of the insured. Benefits from a term life policy are paid to the beneficiaries only if the insured dies within the specified period of time for which the policy was written. Term life insurance does not build a cash value.

Universal Life Insurance

Universal Life Insurance offers financial protection in case of an untimely death. It covers you for a longer period of time, typically until a person is 95 or older. The premiums are generally more expensive than term insurance; however, premiums will not increase over time.

With universal life insurance, there is a guaranteed death benefit payout: since the policy is usually effective for the entire length of your life, your beneficiaries are guaranteed payment. There is no need for renewal with universal life insurance; coverage usually lasts for your entire life.

With the majority of American households depending on two incomes, it is even more critical to obtain life insurance to ensure financial security in the event of an untimely death. Do you have enough life insurance to meet the financial needs of your dependents?