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Life Insurance options

There are many kinds of life insurance, but they generally fall into two categories: term insurance and permanent insurance.

  • Term insurance is designed to meet temporary needs. It provides protection for a specific period of time (the "term") and generally pays a benefit only if you die during the term. This type of insurance often makes sense when you have a need for coverage that will disappear at a specific point in time. For instance, you may decide that you only need coverage until your children graduate from college or a particular debt is paid off, such as your mortgage. 
  • In contrast, permanent insurance provides lifelong protection. As long as you pay the premiums, and no loans, withdrawals or surrenders are taken, the full face amount will be paid. Because it is designed to last a lifetime, permanent life insurance accumulates cash value and is priced for you to keep over a long period of time.

It's impossible to say which type of life insurance is better because the kind of coverage that's right for you depends on your unique circumstances and financial goals.

But remember, the best way to figure out the amount and type of life insurance that makes sense for your particular situation is to meet with a qualified life insurance professional.

life insurance quote button for E.W. Smith Insurance Agency



Go to our 
Insurance Needs Calculator  to find out how much life insurance you might need.  



Excellent, exceptional and wonderful experience every time I call.  My agent is a great sales rep. and has never failed me.  He is a great person to handle my insurance needs.  Just keep up the "Great Service"....Courteous, Caring and knowledgeable.  Thank you!

GARY M, TAYLOR, MI



 

Additional resources:
The biggest life insurance mistake you can make
5 Ways to save on auto insurance right now
4 tips when purchasing home insurance

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