Talk with us about your life insurance needs and current coverage amounts. Kiefer Insurance wants you to make the most informed decision possible when planning for your family’s financial security. There are many financial responsibilities that your loved ones may have. These include the mortgage your spouse will have to pay, as well as the cost of your children’s education, childcare expenses, healthcare, funeral expenses and so on. These can add up quickly. Discussing your requirements with a licensed professional can help ease the burden and provide peace of mind.
There are basically two types of life insurance – term and permanent.
Term insurance policies pay your beneficiaries a sum of money in the event that you die within a period of time defined in the contract (such as 5, 10, 15, 20 or 30 years). The premium will be lower in the initial years but the policy will not build any cash value or equity. Term insurance usually provides the biggest “bang for the buck”.
Permanent insurance includes several variations. Two popular types are whole life and universal life. These policies are designed to provide protection throughout your entire lifetime. The premium generally remains the same throughout the life of the policy. A portion of your premium is invested in a fund that earns interest on a tax-deferred basis. Over time, your policy will accumulate a “cash value” that you can use during your lifetime. For instance, you can borrow against the value of your policy.
Had A Check-Up Lately?
Have you had your life insurance reviewed in the last three to four years? Chances are you may be paying too much or you may be able to get more coverage without paying any extra money. Please contact us for a no obligation evaluation of your coverage.