Coverage that protects those you care about most
It's a subject no one likes to discuss but a topic all who have loved ones must face: If I were to die, how would my family get by financially?
Life insurance proceeds can help meet ongoing living expenses, pay off debt, protect your spouse's retirement plans, continue a family business and finance future needs such as your children's college education.
What type of life insurance you purchase depends on your life circumstances, including budget.
Your two basic life insurance options are:
- Term Life Insurance: Coverage provides a predetermined death benefit for a predetermined number of years, typically ranging from 10 to 30. Annual premiums are fixed, based on your health and life expectancy at the time you apply for the policy.
- Permanent Life Insurance: This coverage is permanent throughout the policy holder’s life. Because permanent life insurance includes a savings component and lifetime coverage, regardless of how long you live, premiums are more expensive than for term life. Permanent life insurance offers multiple advantages, including deferred taxes on accumulated cash value. And withdrawal of funds is tax-free for as long as the policy remains in force.
Permanent life insurance policies are classified as:
- Whole Life Insurance
Caters to long-term goals by offering consistent premiums and guaranteed cash-value accumulation.
- Universal Life Insurance
Provides flexibility in premium payments, death benefits and the savings element of the policy.
Customized coverage to meet your family's needs
We've been serving needs of families on the SouthCoast and beyond with term life insurance and permanent life insurance for more than 65 years. Because we're an independent agency, we can work with multiple companies to find the policy that best suits your circumstances.