Final Expense
Final Expense Life Insurance is essentially a small Whole Life Insurance policy that is typically easier to qualify for. The face amount of these policies are usually in between $2,000 and $50,000. These policies are generally easier to qualify for because there isn’t a required health exam. Most people qualify by answering a few simple questions and by running a quick prescription history. Purchasing a Final Expense Life Insurance policy can be an important decision to help mitigate the financial burden on your family due to the incurred expenses of your funeral and any other unforeseen costs at your passing. If you want to know more about Final Expense Life Insurance, or if you are curious to know if getting a policy is right for you, feel free to give Bryce a call.
Whole Life
Whole Life Insurance is a type of permanent life insurance that is designed to last for someones entire life. This type of policy is a contract between a policy holder and the insurance company. As long a the policyholder pays the designated premium throughout his/her lifetime, the insurance company promises to pay his/her beneficiary the allotted sum of money at their passing. Whole Life Insurance also has a savings element where the plan will build cash value that can be accessed by the insured if needed. If you have any questions about Whole Life Insurance, contact Bryce for more information.
Term Life
Term life insurance is a form of life insurance that is designed to protect an individual for a specified period of time. Buying insurance for 10, 20, and 30 year terms are common. Near the end of ones term, they may choose to renew the policy for an additional term at a higher price, convert their insurance to a permanent product, or just allow the policy to end. These policies have no cash value or investment feature, they just offer the guaranteed death benefit coverage for the duration of the term of the policy. People often buy these type of plans to help cover the costs of a mortgage, or to help financially support their spouse and kids through life if they were to unexpectedly passed away. If you wish to learn more about Term Insurance don’t hesitate to give Bryce a call.
universal Life
Universal Life Insurance is a type of permanent life insurance policy that has more flexibility then that of Traditional Whole Life. Policy holders are allowed to adjust their premiums and face values if they so desire. One important thing to understand about Universal Life policies is the COI or Cost of Insurance. The COI for your policy is the minimum amount required for you to pay to keep your insurance policy in force. These policies also build cash value over the life of the policy. If there is enough cash value to cover the COI, the policyholder may skip a payment without risk of the policy lapsing. If you are interested in learning more about Universal Life Insurance, contact Bryce for more information.
Final Expense
Final Expense Life Insurance is essentially a small Whole Life Insurance policy that is typically easier to qualify for. The face amount of these policies are usually in between $2,000 and $50,000. These policies are generally easier to qualify for because there isn’t a required health exam. Most people qualify by answering a few simple questions and by running a quick prescription history. Purchasing a Final Expense Life Insurance policy can be an important decision to help mitigate the financial burden on your family due to the incurred expenses of your funeral and any other unforeseen costs at your passing. If you want to know more about Final Expense Life Insurance, or if you are curious to know if getting a policy is right for you, feel free to give Bryce a call.
Whole Life
Whole Life Insurance is a type of permanent life insurance that is designed to last for someones entire life. This type of policy is a contract between a policy holder and the insurance company. As long a the policyholder pays the designated premium throughout his/her lifetime, the insurance company promises to pay his/her beneficiary the allotted sum of money at their passing. Whole Life Insurance also has a savings element where the plan will build cash value that can be accessed by the insured if needed. If you have any questions about Whole Life Insurance, contact Bryce for more information.
Term Life
Term life insurance is a form of life insurance that is designed to protect an individual for a specified period of time. Buying insurance for 10, 20, and 30 year terms are common. Near the end of ones term, they may choose to renew the policy for an additional term at a higher price, convert their insurance to a permanent product, or just allow the policy to end. These policies have no cash value or investment feature, they just offer the guaranteed death benefit coverage for the duration of the term of the policy. People often buy these type of plans to help cover the costs of a mortgage, or to help financially support their spouse and kids through life if they were to unexpectedly passed away. If you wish to learn more about Term Insurance don’t hesitate to give Bryce a call.
universal Life
Universal Life Insurance is a type of permanent life insurance policy that has more flexibility then that of Traditional Whole Life. Policy holders are allowed to adjust their premiums and face values if they so desire. One important thing to understand about Universal Life policies is the COI or Cost of Insurance. The COI for your policy is the minimum amount required for you to pay to keep your insurance policy in force. These policies also build cash value over the life of the policy. If there is enough cash value to cover the COI, the policyholder may skip a payment without risk of the policy lapsing. If you are interested in learning more about Universal Life Insurance, contact Bryce for more information.
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