Insurance can be complicated.

If you have people that depend on you financially, getting Life Insurance should be a no-brainer. Even if you don’t, securing life insurance when you’re young and single will lock in an extremely low rate.

Not only can it help your loved ones with funeral expenses, but it can also provide funds for paying a mortgage, sending kids through college or other important concerns if you were no longer around.

Some policies, like whole or universal life insurance, allow you to access your life insurance funds while you are alive. You may be able to borrow against your policy as long as you continue to pay premiums to pay for a home or college for your children.

Here are the 4 main options for life insurance:

• Term Life– Temporary coverage that is affordable and convertible. Term life insurance can be a great way to help protect a family’s financial future. Individuals can get coverage when they need it most, and pay less on premiums than they would for a permanent insurance policy.
• Whole Life- Permanent coverage that has cash value and loan ability. One of the most appealing benefits of purchasing a whole life insurance policy is this: As long as you pay your premiums, your death benefit will never expire. It is guaranteed to be paid
• Index Universal Life- Indexed universal life (IUL) insurance is permanent coverage that builds cash value. An IUL policy allows for some cash value growth through an equity index account, unlike other universal policies that only grow cash value through non-equity earned rates.
• Group Life- Coverage in which a single contract covers an entire group of people. Typically, the policy owner is an employer or an entity such as a labor organization, and the policy covers the employees or members of the group. Group life insurance is often provided as part of a complete employee benefit package.

It’s okay if you aren’t sure which of these is right for you, that’s what we’re here for! We will simplify everything for you and help you figure out what coverage is best for your current situation, all for FREE.