No matter how old you are, life insurance is a smart plan to keep your family safe. Eventually, you will pass away and you will need to be capable of helping your loved ones with additional resources if it does. Contact Insurance Quotes Salt Lake to receive life insurance quotes.
What is Life Insurance?
Like other kinds of insurance, life insurance is a contract between the client and the insurance company who sells the policy. As you pay your premium consistently, the insurance company will return a lump sum of cash to the beneficiaries of the insurance plan in the instance of the policy owner’s death.
Term, Whole and Universal Insurance
In general there are three types of life insurance to consider: term, whole and universal. When it comes to the difference between term vs. whole life insurance, it’s good to remember the truth.
Term life insurance is not permanent and only requires payment for a set period of time to benefit your heirs for a set period of time. On the other hand, whole and universal life insurance plans are more stable. They remain the span of the policy owner’s life and provide perks such as simple access to funds, cash value and tax-advantage expansion to add to your assets.
There are perks and downfalls to every kind of life insurance policy. Speak with any of our Salt Lake City insurance professionals to see which life insurance policy is best for your situation.
Life Insurance Financial Benefits
Every retirement planning program has its advantages and disadvantages varying on each customer’s particular history. This is why partnering with an experienced financial advisor is necessary.
Benefits of Life Insurance
- Forget the trouble of paying for funeral costs from your family
- Supports any surviving children or dependents at home
- Cover mortgages and remaining additional debts
Contact Us Today
If you would like to learn more details concerning life insurance and how it can protect your loved ones, reach out to Insurance Quotes Salt Lake soon.