Why Get Life Insurance
Whatever your age, life insurance is an effective way to guard your family. Sometimes tragedy strikes and you should be capable of helping your family with extra stability when it does. Contact REAP Financial to learn more about our life insurance products.
What's Life Insurance?
Life insurance is a contract linking an individual and an insurance provider. The policy holder forfeits a specified payment, referred to as a "premium", on a regular basis, and in return the insurance provider pays a lump sum to the chosen beneficiaries under specific conditions usually at the policy owner's time of death.
What is the Difference Between Term, Whole and Universal Life Insurance?
There are 3 types of life insurance to purchase: term, whole and universal. When it comes to the difference between term vs. whole life insurance, it's important to know the facts.
Term life insurance is not permanent and only requires payment for a agreed upon amount of time to help your survivors for an established amount of time. Conversely, whole and universal life insurance policies are more stable. They remain the entirety of the policy owner's life and provide advantages such as simple access to savings, cash value and tax-advantage growth to add to your wealth.
There are pros and cons to each type of life insurance policy. Speak with any of our Georgetown insurance professionals to see which life insurance solution is best for you.
Life Insurance and Financial Benefits
Each family is unique, which is why every life insurance policy is different. Financial professionals will advise you while selecting the best life insurance policy to reach your goals during the next few decades.
Do I Need Life Insurance?
- Forget the burden of paying for funeral arrangements from your family.
- Afford the cost of children still staying with family.
- Cover mortgages and remaining additional expenses.
If you want to find out more details about life insurance and how it can protect your family, call REAP Financial of Georgetown today.