Types of Life Insurance
There are two main types of life insurance coverage that are available in the market. Choosing which of these will work best for you require carefully considering your needs.
- Term Life Insurance: This first type is known as Term Insurance. In the industry, it is considered to be a pure product because it lacks an investment component. Many people find this type of life insurance easier to understand because it follows the traditional insurance model that many of us are familiar with.
- Permanent Life Insurance: The second life insurance option is known as permanent insurance, also known as cash value insurance. These include whole life, universal life, index life, and variable life. Permanent Insurance is basically a term insurance policy with an investment component stitched in. It is this investment component that is known as the cash value.
Talking with an advisor can help you understand the differences between these products, as well as how they can fit into your plan for the future. As expert financial professionals, Advisors Insurance Direct ensures that your policy will best fit into your budget and requirements. Contact us now to learn more and to request a term life insurance quote.
Choosing the Best Life Insurance Option
There are many different options available when it comes to term life insurance. It is important to note that all term policies are subject to a uniform set of criteria that have been adopted by the industry and thus make it fairly easy for the consumer to compare and understand. Permanent insurance is usually more complex due to the increase in options and assumptions within the structure. Additionally, many of these cash value variables are not under the control of the insured or the applicant.
When making a decision as to which type of policy is best for your specific need, you will want to consider some of the following:
- How long would you like to keep your policy?
- What is the value of your business and your estate?
- How old is your wife and/or children?
- Have you adequately saved or saving for retirement?
If you rely on a qualified professional to give you the necessary information and guide you through this decision process, you will likely make the best choice for your circumstance. Advisors Insurance Direct has the highly trained professionals that can bring you their expertise and guidance before you purchase.
Other Important Life Insurance Considerations
When you are looking to select the right type of policy, it is important to not only focus on the cost of the policy, but also look at the terms and conditions. For example, how long is the guarantee period? Can your policy be converted to a permanent policy in the future if needed or desired? Might you want to consider a policy that returns to you all your premiums if you’re still alive after a number of years? These questions and others can and will be answered by an Advisors Insurance Direct professional advisor.
Learn More About Life Insurance from Our Experts
Advisors Insurance Direct makes it easy for you to find and select the best insurance policy for your needs. When working with our agents, you can be sure that you will receive accurate and up-to-date information. By establishing contacts with over 100 premium service providers, we can find you a variety of options that help to ensure the best rates. Give us a call or complete our online rate quote form to get a personal term life insurance quote today or to speak with one of our helpful representatives to learn more.
As financial professionals, we will never pressure you to do anything or use silly sales tactics. We are simply here to answer your questions, provide professional advice and walk you through the process of buying life insurance should you decide to move forward.