Life insurance can be challenging to discuss. While no one likes to talk about passing away, it is a part of life. Making sure that those you love are not left without the means to pay for final expenses or maintain their current lifestyle is something that needs to be considered. At Crossroads Insurance of Indiana, we are a local insurance group that is available to sit down and talk with about your life insurance needs.
Life insurance is offered in two primary forms, whole life and term life. Both of them can be a valuable part of your financial planning.
Term life is precisely as it sounds. It is coverage that lasts for a specific term, it likely is from 10 years to 30 years. At the end of the term, some policies can be renewed for an additional term. The policies have a fixed premium and a fixed benefit for the original period. The premium will rise in a renewal due to the age of the person being insured. These policies usually accrue no cash value but cost less, so they are attractive to younger people with families who need a more significant amount of insurance. Some term policies allow for conversion to whole life.
A whole life policy lasts for a lifetime and will accrue cash value. It can be borrowed if the need arises, making it an excellent thing to have in a complete financial package. The premium and the coverage remain the same throughout the life of the policy.
At Crossroads Insurance, we aim to provide superior service to the residents of Indiana. We are knowledgeable about insurance laws and regulations, and we are dedicated to providing our customers with the top-notch service that they deserve. Give us a call or stop by and let us discuss your life insurance with you. We are a full-service insurance agency and will be happy to help you find a quote.