Life insurance

Choosing the right type of life insurance policy to protect your family is an important decision and deserves some time to consider all the options. Should you choose a term or permanent life insurance policy? Each type of policy has its own unique advantages. The right choice will depend on your personal financial needs and long-term goals.

Term life insurance

Term life insurance comes in specific year terms; 10-year, 15-year, 20-year, etc. The policy will only pay death benefits if you die within the term the policy is in effect. Rates are more affordable for a term life insurance policy as opposed to permanent life insurance. The younger you buy your term life policy, the more affordable the rates will be. After age 50, the rates for a term life insurance policy increase. Term life insurance is generally easy to qualify for and may be an option to consider if you are on a budget or are looking for a temporary life insurance solution until you can afford to purchase permanent life insurance. The good news is that many term life insurance policies can be converted into permanent life insurance at the end of the policy term.

Permanent life insurance

Permanent life insurance is just as its name implies–a life insurance policy that covers you for life. It is a more expensive policy to purchase than term life insurance. However, you have the peace of mind in knowing you have coverage for as long as you live as long as you pay your insurance premium. Not only does a permanent life insurance policy pay death benefits but you may also accumulate a cash value for the policy which you can borrow against in times of financial need. There are several different types of permanent life insurance, and the cash accumulation potential will vary based on the type of policy you purchase.

Still have questions about choosing term or permanent life insurance? We’ll be glad to go over all of your options!

Learn more about Manning Insurance Services’ Term Life or Permanent Life Insurance.

Life Insurance is something we need at all ages and stages of life. Life insurance can provide so much more than just peace of mind for those you leave behind.

For a newborn baby, a life insurance policy can be the source of savings for her first car or his first house. Those who are young and newly married need life insurance to ensure you have it when you need it. The cost is extremely affordable, oftentimes less than you are spending on coffee.

Folks at my age and stage in life need life insurance. And no, I am not telling you how old I am. If either Bob or I passed tomorrow, we would want the other to be able to choose whether to work or not. We would want the other to be able to be picky before rushing into a marriage due to financial need. Seriously, that was a consideration for us! I simply cannot imagine how difficult it would be if I lost Bob. I certainly wouldn’t want to face the unthinkable and financial ruin at the same time!

The older set, yes, you need life insurance too! Your passing should not become a financial burden to your spouse or your kids. There are policies for just about anyone regardless of your health.

You can be afraid of the answer and never ask it, or you can call our office and schedule a time to come in and look at the options available to you. Trust me, you are not invincible.

We are happy to meet on evenings and weekends if necessary. This is a big deal! Your family is worth it.

Learn more about Manning Insurance Services‘ Life Insurance