Life Insurance: What kind is best for you?

Protecting what's most important

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What types are available?

  • Term Insurance: Rates are locked in for a certain time period and then the premiums increase significantly or policy will end. You’re able to get a large amount of coverage for a low premium depending on your health. Mostly used to cover large debts, replace your income and pay for kids education.
  • Whole Life Insurance: Rates are locked in at the age you purchase it and never increase. Some features include dividend payouts and a cash value account that you can borrow against. Some uses include covering funeral expenses, leaving a specific amount of money to family/organizations and having funds for purchases in the future like a house or starting a business.
  • Universal Insurance: Similar to whole life, the rate is locked in at the age you purchase it and won’t increase in the future. This option is “Flexible” which means the premiums can be increased or decreased along with the death benefit to help with life’s changes. No dividends typically but you can borrow against the cash account or withdrawal from the death benefit.
  • Annuity: Ability to take a specific amount of money and turn it into a monthly income check for your family until you pass away.

*Additional options exist within these main categories.

I’ll leave you with this. The only kind of life insurance that matters is the kind that is in force when you pass away.

For more information or rates, please reach out to Staci Howell at or 704-256-1980.

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