Learn How to Determine Which Life Insurance Policy Is Best for You

Determine Which Life Insurance Policy Is Best for You

Find out which life insurance policies are best for your needs.

Protecting your loved ones is important, but you’re not going to be around forever. You want to know that your family will be taken care of after your passing. Life insurance is a safeguard to keep your family financially secure when you’re not around. However, with so many types of policies, choosing the right policy can be overwhelming. Outline your needs and your budget and get to comparing policies. Check out these different types of policies to help you make your life insurance decision.

Term Life Insurance.

A term life insurance policy gives you the coverage you need at an affordable rate. However, keep in mind that your policy has a shelf life. A term policy is only valid for the set term. Once the term ends, the policy is void, and you’ll need new coverage. However, the policy does give good coverage and guaranteed benefits as long as your passing occurs during the term.

Universal Life Insurance.

A universal life insurance policy gives you flexible coverage. It allows you to change your coverage and your premiums as your life changes. Additionally, it offers lifelong protection, and it builds cash value in case you need to borrow a little cash down the line. However, do be mindful of a universal life policy. If you fail to meet the set conditions of a term, you could be left without coverage.

Whole Life Insurance.

A whole life insurance policy gives you guaranteed, life-long coverage. The payments stay the same, and they build cash value over the course of your lifetime. That way you have a financial safeguard to fall back on in the future. However, once you commit to the policy, you can’t adjust it later. Additionally, these types of policies are more expensive than a term policy.

Pick the right life insurance policy so that you can rest assured that you’re getting the right coverage. Contact the professionals at ISU Wissink Insurance to help you find the right policy. Located in Culver City, California, we serve all your personal and commercial insurance needs.