You may already know that Life Insurance can help protect your loved ones should something happen to you. But did you know that certain policies can also provide you with cash value that can be used during your lifetime?

Here’s a brief explanation of the different plans:

• Term Life Insurance.  The simplest form of life insurance, where coverage is fixed for a certain period of time - one to 30 years - and is usually renewable at the end of the initial coverage period.  Premiums are lowest when you're young and increase upon renewal as you age.  This type of plan pays your beneficiary a fixed amount of money if you die during the term of the policy.  You may be able to convert your Term Life Insurance to a Permanent Life Insurance policy if you want to.

• Permanent Life Insurance.  This type of policy not only provides you with a lifetime of protection, but can also give you access to cash that can be used during your lifetime for any reason you choose - such as your child's education, or as a supplement to your retirement income in case unexpected challenges come your way.  However, accessing the cash value reduces the death benefit.  There are different types of Permanent Life Insurance plans that include whole life, universal life and variable life insurance.*

You don't have to do this alone.  Give us a call.  We can help you make the choices that are right for you.

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