Anyone who wants to secure their financial future and their beneficiaries should know it is vital that they get life insurance. Whether you are in your prime or about to retire, you can still invest in life insurance for financial peace of mind. That is why Breneman Perry Insurance takes Indiana residents through the different types of life insurance they can choose.
A lot of people choose this type of coverage as they find it affordable. If you die during the time you were still earning, it can benefit your family by replacing your income. Your family can use the money for various family expenses like childcare and bills. Term life insurance comes in handy because it offers your family a safety net during difficult times. Additionally, it is flexible, allowing you to choose the length of term you want.
Universal life insurance is permanent, although it has a flexible premium structure. It offers you protection and builds cash value throughout your life. If there is a change in your financial needs, you can add or lower the benefits as long as you pay sufficient premiums.
Whole life insurance is permanent, thus the name. Whichever coverage you buy from the start remains the same all through your life. It comes with a fixed cost that depends on your age when buying it. Your family member will receive a payout after your death, as long as you make the needed payments.
It helps protect your family while at the same time giving you the freedom to invest. In addition, you can choose where to invest your money.
Life insurance comes with several uses, like paying for funeral expenses when you pass away or paying off any debt you had. It provides a lifeline to your family during challenging times. If you reside in Indiana and are looking to purchase life insurance, contact Breneman Perry Insurance and get assistance in picking the right policy.
