Make sure your family is taken care of the unexpected.
Don't gamble with your family members' future. Having an appropriate life insurance policy is essential when it comes to providing for your and your family's future. Life insurance can help you keep the pledges you have made to your family even after you are gone.
Eddie Insurance Agency can help you find the right life insurance policy for you and help ensure that your policy continually meets your needs. Contact us today to get started.
Common Types of Life Insurance
There are several different types of life insurance policies available — the most common include the following:
- Term life insurance: Provides coverage for a specific period of time, such as 10, 20, or 30 years, and pays out a death benefit if the insured dies during that time.
- Whole life insurance: Provides coverage for the entire life of the insured, and includes a savings component that accumulates cash value over time.
- Universal life insurance: Similar to whole life insurance, but offers more flexibility in terms of premium payments and death benefits.
- Final expense insurance: A type of life insurance designed to cover end-of-life expenses, such as funeral costs or medical bills, with a smaller death benefit than other types of insurance.
- Group life insurance: A type of life insurance provided by an employer or organization as a benefit to employees or members.
So what type of life insurance is best for you? Talk with the team at Eddie Insurance Agency today at (401) 944-8900. We can assist in identifying the best protection for you.
Advantages of Life Insurance
Not only can life insurance provide peace of mind for your loved ones after you pass away, but many policies also include additional benefits and investment opportunities that you can take advantage of while you are still alive.
Advantages of the life insurance death benefit: When you pass away, your life insurance provides income tax-free money to your named beneficiary or beneficiaries that can be used to pay funeral expenses, debt, tuition, estate taxes, or virtually any financial need. Your policy can help provide security for your business as well, by enabling partners to buy out the interests of a deceased partner and prevent a forced liquidation.
Advantages of Living Benefits: The cash value growth of a whole life insurance policy is tax-deferred, meaning you do not pay taxes on the growth of cash value unless money is withdrawn. Loans or withdrawals can be taken against the cash value of a whole life insurance policy to help with expenses, such as college tuition or the down payment on a home.
The right life insurance coverage for each and every one of our neighbors is unique — talk with us today to find out how to protect your family and your future with the right life insurance.
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It can seem complicated and confusing when choosing the best plan for your needs. Fill out the form below and we'll contact you to discuss all your available options.