When many people think about life insurance, they don’t realize it is something that can be incredibly affordable. It is one of those insurance policies that you purchase and hope you never have to use. However, there are tragedies that happen every day, and you will be glad that your family has coverage if something were to happen to you. At Signet Insurance Group, we help our customers find the right type of life insurance to cover their needs at a price that they can afford. The best way to ensure you are choosing the right life insurance policy is to understand that there are different types of life insurance to choose from.
Different Types of Life Insurance Policies
When you call on Signet Insurance Group to help you find life insurance, we will help you look closely at the different types of life insurance policies that are available to you. Here is a glimpse into the difference between life insurance policies:
– Term Life Insurance: This is possibly the most affordable option available as far as life insurance goes. Term life insurance policies will give you coverage in the case that you pass away and will guarantee a death benefit. You will have level payments for the life of the policy as well.
– Whole Life Insurance: This type of policy is valuable protection that has level premiums. It is a great way to grow your personal wealth as you can access this money through loans.
– Fixed Annuities / Fixed Income: There are several benefits to this type of life insurance policy. It has the ability to earn tax-deferred interest throughout the years. This is a policy that is one lump sum of money that will continue to grow for you. You can possibly have access to the money for certain situations throughout your life as well.
When is Buying Life Insurance a Good Idea?
There is never a bad time to turn to Signet Insurance Group to help you get life insurance. However, there are some life events that make you think about life insurance more than you normally would. If you are young, you more than likely haven’t given it much thought at all. However, here are some life events that make people think that it might be time to choose a life insurance policy that will cover their family members in the case that they pass away.
– Marriage: As you start you life with your spouse, you need to make sure they are taken care of if you were to die.
– Home Purchase: If you have just bought a new home, you want to make sure that you have life insurance that could help to secure that home if you were to pass unexpectedly.
– Children: As your family grows, most people think more about ensuring their family is financially secure no matter what life throws their way.
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