lIFE INSURANCE
pROTECTING YOUR
LOVED ONES
Life insurance is an essential financial tool that provides financial protection and peace of mind to individuals and their families. For any household, considering financial security for dependents such as your spouse and children is vital. In the event of an untimely death, the aftermath can be financially devastating for uninsured families.
It’s essential to assess your personal circumstances, financial goals, and the needs of your loved ones to determine the appropriate amount and type of life insurance coverage. Working with a financial advisor or insurance professional can help you evaluate your options and select a life insurance policy that aligns with your specific needs and objectives.
WHAT CAN LIFE INSURANCE PROVIDE YOUR FAMILY?
Mortgage Protection
Allow your loved ones to remain in their home.
Debt Relief
Give the gift of a debt free legacy.
Income Replacement
Provide funds and financial security.
TYPES OF INSURANCE
TERM LIFE
TEMPORARY – Coverage is set for a specific period of time and expires at the end of the set period (5, 10, 15, 20 years).
AFFORDABILITY – Generally associated with the lowest premium cost.
DEATH BENEFIT – Fixed.
UNIVERSAL LIFE
DURATION – Lifetime coverage.
AFFORDABILITY – Premiums are generally flexible to allow you to increase or decrease payments.
CASH VALUE – The cash value and death benefit can fluctuate based on the premium you pay and the market performance.
WHOLE LIFE
CASH VALUE – A portion of the premium functions as an investment, building tax-deferred interest over time
AFFORDABILITY – Premiums may initially be more expensive than other forms of life insurance but remain constant for the duration of the policy
RENEWABILITY – Life-long coverage as long as the premium is paid.
FINAL EXPENSE
DURATION – Lifetime coverage
PREMIUM – Most policies offer level premiums
CASH VALUE – The policy owner can decide what sub-accounts to invest their cash value in. A minimum death benefit is often guaranteed. The performance of the sub-accounts will determine other gains.
dID YOU KNOW?
LIFE INSURANCE FACTS.
Some life insurance policies, such as permanent life insurance or cash value policies, offer an investment component that accumulates cash value over time. This cash value can be accessed during your lifetime to supplement retirement savings or other financial needs. Additionally, life insurance can be a tool for leaving a legacy or supporting charitable causes. By naming beneficiaries or charitable organizations as beneficiaries of your life insurance policy, you can provide a financial gift or donation that can make a meaningful impact beyond your lifetime. For more information or to receive a quick quote, contact us today at 870-236-5018.
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fIND COVERAGE TODAY
Finding the right coverage for all areas of your life doesn’t have to be difficult. With Prichard Insurance Agency, we make it easy and tailored to your needs. Get your free insurance quote today!