What life insurance plan is right for you?

As mentioned in last week’s post, September is Life Insurance Awareness month. What better time to explore the different options you have in life insurance? Life insurance can sometimes be confusing, below is a simple chart to explain two types of life insurance.

One of the most important reasons for purchasing life insurance is to provide money for your family when
you die. But life insurance can offer other benefits beyond just a death benefit. Before purchasing life
insurance, carefully consider your options to determine which type of policy best fits your needs.

Term Life Insurance
Term Life Insurance is coverage that is in place for a certain time period – it is often referred to as “temporary coverage.” You can typically purchase coverage in periods of 5, 10, 15, 20, or 30 years. If you die before the end of the period, your beneficiaries will receive the death benefit. Term insurance does not typically have cash value. In most cases, term insurance can be purchased at more affordable rates than permanent coverage.

Permanent Life Insurance
Permanent Life Insurance offers protection for your entire life. There are several types of permanent insurance plans including Universal Life and Whole Life. Permanent insurance builds cash value on a tax-deferred basis. You can generally access your cash value in the form of a loan or withdrawal during your lifetime. Premiums can be a fixed amount and are generally greater than they would be for the same amount of term insurance.If you are interested in changing or getting a new policy, contact us! We can help find you an agent in your area to help you met your life insurance needs.

Agent locator: http://www.wflains.org/agentlocator.asp Or give us a call at the Home Office: 1-877-935-2467

Let Buddy Tell You Why…

It does not matter what month it is, life insurance is an important part of protecting your family from the unthinkable. Yet, many folks would rather forego buying it because they think it is not important right now, too expensive, or just unnecessary. Those who sell or work in the industry know the truth, that it is not a luxury; life insurance is a necessity.

To spread awareness of the need for life insurance, September is Life Insurance Awareness Month. How do we share this information with the public? How can we show others that everyone needs life insurance? How about sharing the LIFE Foundation® video of “Cake Boss” Buddy Valastro talking about why life insurance is something everyone needs, and the issues that can arise without security. Buddy lived through a trying time without life insurance and learned the hard way why it is so important. Now hear him share his message of security and why, “If people depend on you, you have to protect them with life insurance.”