INDIVIDUAL LIFE INSURANCE

Choosing the right Individual Life Insurance policy hinges on your future goals. Whether you aim to provide a tax-free income for your beneficiaries, cover final expenses, replace lost income in the event of your death, or make a significant charitable contribution, we assist in selecting a policy that aligns with your needs at an affordable price. Primarily, age and health significantly influence the premium you pay. While you can purchase a policy at any age, affordability generally increases with younger age.

Life insurance policies aim to provide a benefit upon death, with Term and Whole (or Permanent) policies being the most common types. Term Insurance is often the most economical, with a duration ranging from 1 to 30 years. It pays only if death occurs during the policy term, and most term policies lack additional benefit provisions. Options include level term, where the death benefit remains constant, or decreasing term, where the benefit decreases over the policy’s term. When the term ends, qualifying for new coverage may be uncertain, and premiums might become prohibitively expensive.

Whole or Permanent Insurance offers a consistent death benefit and premium throughout the policy’s duration. These policies can accumulate cash value, functioning akin to a savings account, allowing for withdrawals or loans. Understanding your goals and considering these factors can guide you in selecting the most suitable and affordable life insurance policy.