Which Type of Life Insurance Is Right For You?
A vital part of financial planning is ensuring that your family is financially secure. You probably need life insurance if there are people in your life who are either fully or partially dependent on your income, such as a spouse, children, or aging parent or grandparent.
What would happen to your loved ones if you were not able to provide for them financially? Life insurance helps fill the gap between the money they need to live in a financially secure way, and the amount of money provided by your estate without the insurance. It also creates an immediate estate.
What is the difference between term and whole life insurance?
Term insurance provides protection for a specific period of time (i.e. 20 years) at an affordable cost, while whole life insurance provides protection for your lifetime and builds up a cash value that the policy owner can withdraw or borrow against.
So which type of life insurance do you need? Ingram Insurance Agency in Phenix City AL can help you determine the type and amount of life insurance that’s right for you and your family. Call Lewis Ingram at 334-298-5626 to get your free life insurance quote.