What Life Insurance is Right for Me?

Buying life insurance provides the financial security net that all head of the families want to provide for their dependents. With that in mind, are you in the market for life insurance? There are just so many life insurance options in Hollywood, FL, but let’s dive right into the three most common options out there!

Term life insurance is a form of temporary life insurance that provides you with coverage for a certain period of time. That certain period of time is completely up to you and the insurance company. The most common term lengths that life insurance companies offer are 10 years, 15 years, 20 years, 25 years, and 30 years. Term life insurance is the most affordable type of policy on the market and that’s because it doesn’t provide an investment option or cash value growth with time.  

Whole life insurance is a form of permanent life insurance that allows you to have coverage for your whole life. Since whole life insurance is a form of permanent life insurance, you have the opportunity to build cash growth with time. This cash value is something that you will be able to borrow from but you will have to pay back this money or it will get taken out of your death benefit. However, this is a great source of emergency money in the case that you need quick cash, your policy will be able to have your back. With whole life insurance you will also be able to enjoy its consistency because your premiums will be fixed and the same for the life of your policy. This makes it possible to budget what you need to budget without worrying about your policies premiums rising.

Universal life insurance is another form of permanent life insurance which again allows you to receive coverage for the rest of your life. Universal life insurance, just like whole life insurance, allows you to accumulate cash value with time that you can access if and when you need to but just like whole life insurance, you will need to pay it back. With a universal life insurance policy, you will have the flexibility that whole life insurance doesn’t give you. Your premium payments can be as flexible as you want it to be. Not only will you be able to change up your premium payments, but you can also be flexible with your face value or death benefit. Which is a good thing because you never know what happens in the future!

Buying life insurance is one of the most important things you will buy in your life. With it being so important, it would help to have the very best team to help you find the best life insurance policy that best fits your lifestyle, health, and needs. When looking for the best you don’t need to look far because our team at Insurance Consultants International are here to help you find the best life insurance policy for you and your family! Call us today!