Many people are committed to planning for their future but may not consider securing a life insurance policy. The agents at Travers Insurance serving the Webster Groves, MO area want you to know how very important it is to have a life insurance policy in place before you pass away.
Life insurance is designed to provide a financial safety net for your family when you pass away. There are several different life insurance policy options, so it can be a bit overwhelming to decide which type of life insurance policy will work best for you and your loved ones.
Three Most Popular Types of Life Insurance Policies
Whole Life Insurance
Whole life insurance provides lifelong coverage and offers a death benefit, along with a cash value option that increases over time. You can borrow against this cash value component during your lifetime if you want to pay off bills before you die.
Term Life Insurance
The most affordable life insurance policy option, term life insurance is only in effect with a death benefit payout if you die during the specified term. The most common terms are 10, 20, or 30 years. You can renew the policy, but it may cost more than the original premium.
Universal Life Insurance
This type of life insurance allows you to change the death benefit and even the premium payments based on your changing knees throughout your lifetime. This type of policy, similar to whole life insurance, accumulates a cash value. You can use this cash value to pay the premiums or increase the final death benefit payout.
Contact Us Today
To create the best life insurance policy for you and your beneficiaries, contact the experienced and trusted agents at Travers Insurance serving the Webster Groves, MO area today!