Life Insurance

There are many kinds of life insurance, but they generally fall into two categories: term insurance and permanent insurance.

Term insurance is designed to meet temporary needs. It provides protection for a specific period of time (the "term") and generally pays a benefit only if you die during the term. This type of insurance often makes sense when you have a need for coverage that will disappear at a specific point in time. For instance, you may decide that you only need coverage until your children graduate from college or a particular debt is paid off, such as your mortgage.

Now is a GREAT TIME to look at TERM insurnce.  Rates are amazingly LOW !  Also, this is a great option to provide PROTECTION surrounding STUDENTS LOANS.  If your student is preparing to take out a loan for college, and you are going to CO-SIGN for it... take out a small term life policy on the student.  Rates can be as low as $10 a month!  What a small price to pay to avoid a terrible financial loss should the unfortunate occur.  Remember, lenders will not forgive a student loan if the student were to die.  I know it's a terrible thought, but it is a SMART, inexpensive way to avoid potential financial ruin in the event of a worst case scenario.

It's impossible to say which type of life insurance is better because the kind of coverage that's right for you depends on your unique circumstances and financial goals.

But remember, the best way to figure out the amount and type of life insurance that makes sense for your particular situation is to meet with a qualified life insurance professional.

Contact me today to discuss your options!