If you have a boat, you have boat insurance. If you have a car, you have invested in auto insurance. Well, if you have life, it makes sense to invest in life insurance from The Smith Insurance Group Inc. in Sandy, UT.
But since life insurance comes with different insurance policies, you may be unsure which one suits you. The good news is that as your life insurance partner, we have taken time to shed light on a life insurance policy apt for you.
Types of life insurance policies
Life insurance is that safety net your beneficiaries run to when financial obligations come calling. But for you to know what’s best for your loved ones, you need to understand the different life insurance policies and decide the one that suits your financial plan.
Term life insurance
This insurance comes into effect for a particular period, let’s say, 10, 15, or 20 years. This type of life insurance is suitable for you if you need coverage for a certain period. For instance, if you have children in school and want to ensure that their education is taken care of even when you die, term life insurance is best suited for you.
Besides, if you need a large amount of coverage but have a limited budget, term life insurance is a good option.
Permanent life insurance
This life insurance policy is usually in place for the rest of your life as long as you service your premiums. If you want a life insurance plan that remains in place for as long as you live, permanent life insurance is for you. Besides, if you are looking for a life insurance plan that accumulates cash value to supplement your retirement income, consider a permanent life insurance plan.
Invest in a life insurance policy today!
Would you like to secure your future with a life insurance policy? If you are in Sandy, UT and its environs, please get in touch with The Smith Insurance Group Inc. for an affordable quote.