Reap Financial and Life Insurance
Regardless of where you are in life, life insurance is an effective way to keep your family safe. Sometimes the unthinkable happens and you should be able to help your loved ones with additional resources if it does. Call Reap Financial to learn more about our life insurance products.
What is Life Insurance?
Life insurance is an agreement linking a policy holder and an insurance company. The customer pays an agreed upon amount, referred to as a "premium", regularly, and in exchange the insurance provider pays a lump sum to the chosen beneficiary under specific circumstances usually at the policy owner's time of death.
Which Life Insurance Policy is Right?
Commonly there are 3 kinds of life insurance to purchase: term, whole and universal. When it comes to term vs. whole life insurance, it's good to have the facts.
Term life insurance means you simply pay for an agreed upon amount of time, and the benefit to your beneficiaries lasts only for a fixed period. Whole and universal life insurance are the two most typical kinds of life insurance. They are long-lasting plans, meant to endure the rest of the policy owner's lifetime. If correctly set up, there are quite a few advantages to universal or whole types of life insurance policies, including easy access to needed funds, while additionally providing cash value, as it adds to tax-advantaged growth of your savings.
Both the whole and term kinds of life insurance have their share of advantages and disadvantages. Speak with any of our insurance specialists in Austin to see which life insurance policy is best for your needs.
Life Insurance Financial Benefits
Each family is different, which is why every life insurance policy is different. This is why selecting a skilled financial advisor is necessary.
Is Life Insurance Necessary?
- Eliminate the trouble of funding funeral costs from your loved ones.
- Cover the cost of dependents still staying with family.
- Settle outstanding debts and finish off items such as mortgages.
If you want to find out more details concerning life insurance and how it protects your loved ones, call Reap Financial near Austin soon.