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Life Insurance If you have a family to protect, a sound life insurance program is the perfect solution. There are two basic types of life insurance needs: temporary and permanent. Temporary needs include home mortgages or short-term debt reduction, family income and educational expenses and can last as little as one year or last 20 to 30 years or longer. Term insurance is the most cost effective method of insuring many short-term needs. The Most Popular and Inexpensive Type of Life Insurance sold today are the "Level Term" Plans. They offer both level premium and death benefit for 10,15, 20 or 30 years. This is the type of Life Insurance you see advertised on TV and they generally have the lowest rates. Permanent needs include those that last for your entire life or potentially for periods of 15 years or more. Permanent insurance needs include final expenses, funds to cover estate taxes and retirement savings protection. Permanent and universal life plans are ideally suited for meeting these goals. The primary purpose of life insurance is to provide cash for your family in the event of your death to ensure that they can remain in their home and continue to maintain an adequate standard of living. There are a number of factors that determine the cost you pay for life insurance including:
If you would like more information, including the Life Insurance Calculator, please click on the Life Insurance Product link on this page. If you are interested in a Life Insurance quote please contact us. |
Phone: (610) 868-6876 Address: Related Topics: |
ERIE is a registered service mark of Erie
Insurance Exchange. |
