At some point in time every family experiences the loss of a loved one. This loss can be compounded by no longer being able to afford mortgage payments or college tuition. That is why we offer Life Insurance. We don't push our clients into something they don't want, but we sincerely desire to help you prepare for those unforeseen terrible situations.
There are two main types of life insurance:
Term Life Insurance: This is what we recommend to the majority of our clients. It generally lasts between 10 and 30 years and has a constant price. This policy is less expensive than a whole life policy of an equal amount, but it lasts for a limited period of time. Therefore, we recommend purchasing this policy and then saving the money that you would have paid for a similar whole life policy. That way, when this policy expires, you will have a considerable savings account that could replace this policy with essentially "self insuring."
Whole Life Insurance: As the name suggests, this type of policy only expires upon the death of the insured individual. Again the price is constant. However, these policies are generally much more expensive than their term counterparts. This type of policy is great to purchase for a child or young adult. At a young age these policies are much less expensive and the child can take over the policy when they become and adult.