Life Insurance

Term Life Insurance

Term life insurance is one of the most affordable options for those on an economic budget. It provides life insurance for a predetermined amount of time at lower rates. If the individual dies during this period, his or her settlement will be distributed to their beneficiary.


Whole Life Insurance

Whole life insurance offers coverage for your entire life, rather than a specific amount of time. The majority of time, the premium and death benefit remain stable.


Universal Life Insurance

Universal life insurance provides a cash buildup. Each month, the cash will accrue interest that will be allotted to the policy account. 
                                                                                                                                                                                   

Purchasing Life Insurance

Life Insurance is one of the most important long-term investments for any individual. Whether you are single or married and have five children, it's important to consider purchasing life insurance for the welfare of you and your loved ones.

The following are the top five reasons why you should consider purchasing life insurance:

1. The death of any loved one is certainly a tragedy and it's important to have a long term financial plan. Many expenses often arise including funeral bills, high medical bills, and other miscellaneous costs. The average cost of a funeral alone is around $8,000. This is why it's important to purchase life insurance, so that these costs are paid for under your coverage--rather than leaving these expenses to loved ones.

2. Death can be an unsettling subject, but in its instance, you don't want to leave your spouse and children with a large debt, unpaid bills, and a house mortgage. That's why purchasing life insurance is both an important and smart investment to take. By purchasing life insurance, you can better insure that once you are gone, your family will be financially stable and not be forced to vacate the house or living situation due to unpaid rent or mortgage.

3. Even if you're single and do not think that you have anyone to take care of or any children to look after, it's important to purchase a life insurance policy. Down the road, one, five, or even, ten years from now, you could be married and have children. Through proper planning, you could purchase a very economically affordable policy now, rather than waiting five or ten years from now, and paying substantially more for a policy.

4. Another important factor to account for is the amount you should purchase for your policy. Among industry standards, we recommend clients purchase a policy between five to ten times their annual salary. This ensures that their loved ones are financially secure to cover expenses such as paying mortgages, bills, funeral expenses, and any other miscellaneous charges.

5. Finally, it's important to remember that life insurance is non taxable. This means your entire settlement will go to your spouse and children. It will not be taxable. This money can also be used to pay for college for your children.

Term life insurance is one of the most affordable options for those on an economic budget. It provides a person life insurance for a predetermined amount of time at lower rates compared to other plans. If the individual dies during this period, his or her settlement will be distributed to those stated under the policy. This type of life insurance is popular among those looking for extra coverage during pregnancy or child-rearing years.

On the other hand, whole life insurance offers coverage for your entire life, rather than a specific amount of time. Premium and death benefits will usually remain stable and won't fluctuate, as it may in term life insurance. Premiums are also normally paid annually.

The last type of life insurance that we offer is universal life insurance. This type of insurance provides a cash buildup, which in a sense is savings that can be used to alleviate premium payments. Each month, the cash will accrue interest that will be credited to the shareholder's account.

Therefore, when considering life insurance, keep these key items in mind to better determine whether a life insurance policy is suitable for you.

CALL US NOW AT 858-505-0508
EMAIL US NOW AT info@bestbuylowcostinsurance.com
Website Builder