Unless you have a crystal ball lying around, there is no way to know what the future may hold. What you do know is that you want to provide opportunities for your family and ensure the long-term financial security of the people you love. Life insurance can help you achieve those goals with coverage that can provide benefits both now and for many years to come.
Term Life Insurance
Term life insurance is high-benefit insurance designed to provide financial security and income replacement for dependents.
- Coverage is typically available in terms of 10, 15, 20 or 30 years
- Benefits usually total between $100,000 and $1 million or more
- Premiums tend to be low and affordable for the average household
- Does not accumulate cash value
- May be converted to whole life coverage
Term life can be purchased in addition to a whole life policy as a way to assure financial security for a spouse, children, or other dependents during the years in which they rely on you for income. It can be used to cover final expenses, pay off debts, replace lost income or household services, and cover future costs, such as college tuition. Term life insurance can also provide the opportunity to leave a financial legacy for a charity.
You Can Never Have Too Much Coverage
No one who needs to file a claim ever wishes they had purchased less life insurance. While no amount of money can take away the pain of a loss, it can provide dependents with peace of mind knowing that money will not be a burden in the years to come. At Mid Rivers Insurance, we work closely with our clients to determine how much coverage they might need for future expenses based on personal needs, goals, income, and budget.
Whole Life Insurance
Whole life insurance is coverage designed to provide benefits for life.
- Coverage is permanent
- Premiums remain the same, regardless of age or health
- Policies accumulate cash value that can be borrowed against in the future
- Benefits tend to be lower, but never expire
- Some types of permanent coverage allow for flexible premiums and investment options
Whole life insurance is much more than a death benefit; it provides living benefits that can help you plan for the future. A whole life policy can be thought of as a monetary asset to help plan for retirement and financial emergencies.
It’s Never Too Early for Whole Life Insurance
Perhaps you are just beginning your adult life and do not yet have any dependents to care for. It’s still not too early for whole life insurance. Unlike other types of insurance, life insurance eligibility and premiums are dependent upon the age and health of the insured individual. The younger and healthier you are, the more likely you will be to qualify for the coverage you want at a low, affordable rate. That means you can lock in low rates that will not change for the rest of your life – regardless of any changes you may experience in your health. Parents can even provide children with the gift of whole life insurance and low premiums for life.
Request Your Life Insurance Quote
Protect the life you have with insurance that meets your needs both now and in the future. Contact Mid Rivers Insurance for more information about our coverage options and to request your complementary risk evaluation. We can help you select the coverage that’s right for you.