Life insurance is the one form of insurance policy that has nothing to do with protecting you, but financially protecting your beneficiaries if you die. There are several different kinds of life insurance, but the most common are term insurance and permanent insurance.
Term life insurance- provides only protection and flexible premiums for a specific period of time, during which, if you die, your beneficiaries will be awarded a benefit. People usually opt for term life insurance until they reach a point where they consider it “safe” to withdraw, such as when their home is paid off or their children graduate from college.
Permanent life insurance- provides lifelong protection to beneficiaries and is priced for you to keep over a long period of time. This type of insurance acquires cash value, and the premiums are usually fixed.
Life insurance is important to different people for different reasons. Some people may opt to never have life insurance at all. Depending on your financial goals and family situation, your policies and premiums will differ. If you’re afraid of leaving behind a large debt or taking a safety net away from your beneficiaries, you may want to consider buying life insurance.
As an independent Columbia, SC insurance agency our job is to shop for you. We can help you find life insurance that can give you a variety of options, including the following:
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