Personal Life Insurance

What is life insurance?

There are two basic types of life insurance

1. Permanent or Cash Value

2. Term

Both permanent and term life insurance provide a payment to the policy beneficiary upon the passing of the person insured on the policy. Permanent or cash value life insurance also provides a cash accumulation component, where a portion of your premium is set aside to accumulate as the "cash value" of the life insurance policy.

In the event of a tragedy, life insurance proceeds can:

• Pay for funeral costs
• Help pay the bills and meet ongoing living expenses
• Pay off outstanding debt, including credit cards and the mortgage
• Continue a family business
• Finance future needs like your children’s education
• Protect a spouse’s retirement plans

The cash value of permanent life insurance policies can be used in a number of ways beneficial to the living policy holder including savings, retirement and investment benefits.

While life insurance is a topic that's easy to put off or avoid discussing, it's actually pretty easy to put in place and it serves as needed protection and peace of mind so that your loved ones aren't overburdened when someone passes on. Use the Life Insurance Needs Calculator now to assess your needs.

Getting life insurance doesn’t have to be difficult. We have some easy steps for you to walk through to see if life insurance is right for you. Plus, we will help you consider how different life events—such as having children or buying a home—can affect your insurance needs.