Life Insurance

 

Life insurance comes in many forms and types of policies. 

These are Term, Whole Life Universal and Life Variable.

What type do you need? 
Do you need more than one policy? 
Does your policy have a cash value? 

There is no one right answer that suits every policy holder. At ISU Insurance Services GVW & Associates our dedicated team of life insurance professionals will help you find the right plan or plans to fit your specific needs. 

 

Term Life Insurance Basics:

  • Coverage for a “term” or period of your life.
  • Lower premiums for higher coverage.
  • Rates can change after specific terms expire.
  • No equity – cannot be used as cash value.

 

Whole Life Insurance Basics:

  • Exactly like it says – permanent, not for a specific period.
  • Protection carries with you your whole life.
  • Can build equity and have cash value.
  • Higher premiums than term life, but can be more valuable in the long run.

 

Term and Whole Life Combined:

  • Build lifelong base of whole live coverage.
  • Supplement specific times of your life with term insurance.

 

When to choose term life?

Have a strategy for long-term financial stability? Need coverage for a specific period of your life? Then a term life policy could be a good option. Many people take term life policies to cover things like mortgages and living costs for their minor children. Once the children are of age or the mortgage is paid off, the term would expire. You would have protected your family until they are able to provide for themselves. 

 

When to choose whole life?

Whole life can be used beyond just a plan to protect your family in the event of your death. It can be used in your retirement years as a cash asset. Or it can provide equity for loans and have fixed payments that do not increase over time. Some whole life policies even provide dividends – it depends on the policy you elect to purchase.

 

So many types of life insurance with so many different parameters and cover details. It is no wonder that many people feel overwhelmed when trying to find the policy. Let one of our life insurance professionals put together the right life insurance quote for you. Our ISU Insurance Services GVW & Associates professionals will assemble the information for you, help you define your insurance needs and find it right coverage for you.

Call today for more information and get a free life insurance quote!

 

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