At Deasy Wealth Group, we understand that protecting and safeguarding your family and home is a top priority. A well-structured Life Insurance policy can be a powerful component to your overall insurance protection plan.
We work with our clients to design the plan that fit your needs and life – whether that’s Term Life Insurance, Whole Life Insurance, or Universal Life Insurance policies.
Continue reading below for more information to learn which policy might be right for you, and schedule your free consultation.
Term Life Insurance provides a death benefit for a limited period of time. Term insurance is only good for a period of time, because it has a TERMination date. Term insurance is typically the cheapest type of life insurance, which makes it attractive; however, it only pays if the insurer dies during the policy term.
Whole Life Insurance (also known as permanent life insurance) provides death benefits for the entire life of the insured. With a few exceptions, your policy cannot be canceled by the carrier once you have been approved for the coverage. Whole life insurance builds cash at a fixed rate determined by the insurer at the time of purchase. The insurer can borrow against the cash value in the form of a loan for any purpose. This reduces the death benefit and available cash surrender value.
With universal life insurance, you pay a monthly fee that splits into two parts: One covers life insurance and the other goes into savings and investment. It’s meant to be more flexible by allowing you, the policy holder, to choose how much premium you pay within a certain range.