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Top Life Insurance Options

One of the last things you want to do is to burden your loved ones with undue expenses after your death. The fact is that you don’t have to suffer from financial shortcomings after paying for unnecessary or redundant life insurance policies! Enjoy your life by having the peace of mind that you made all of the right decisions. I am an independent agent, and my main goal is to always act in your best financial interests. I founded Spotts Insurance Services, LLC in order to educate others about life insurance and retirement planning.

A Brief Guide to Life Insurance

Most people invest in life insurance in order to help their loved ones cope with expenses while going through the bereavement process. Life insurance is commonly used by beneficiaries for temporary income replacement, lifestyle maintenance, funeral expenses, estate planning, and payment for outstanding debts. There are numerous types of life insurance. A few common types of life insurance are listed below:

  • Term Life Insurance - Term life insurance typically offers the highest protection at the lowest price. The death benefit is only paid in the event you die during the term that has been paid for. Premiums will almost always rise when the policy is renewed, and many individuals eventually opt to convert term life insurance plans to whole life insurance plans.
  • Whole Life Insurance - Common types of whole life insurance are often referred to as straight or ordinary life insurance; and whole life insurance will cover you for as long as you live. Premiums on whole life insurance policies can vary. However, whole life insurance policies develop cash value over time.
  • Universal Life Insurance - Premiums paid initially are deposited into a policy account that accumulates interest over time, and charges are deducted from the account periodically. Insurance coverage will continue as long as enough funds remain in the account to pay for insurance charges.

Call to Learn about the Best Option for You

It is important to discuss different life insurance options with an experienced agent that specializes in retirement planning. Call me at 877-936-2348 to learn more.