The best kind of life insurance is the one financially suitable for you. Life insurance is designed to indemnify your beneficiaries from financial liability whether temporary or permanent. Term life insurance indemnifies temporary liabilities, permanent life insurance indemnifies permanent liabilities. Term life insurance generally covers fixed periods of 5, 10, 15, 20 and 30 years. Permanent life insurance for indemnification offers participating whole life and guaranteed universal life.
Life insurance for supplemental retirement income can use universal life insurance: current assumption, indexed and variable (using separate sub accounts and has market risk.) Determining your risk tolerance and product suitability is critical in forming a financial profile.
What is the best kind of life insurance to buy? Sometimes a combination of policies work best. If you have a need for a large amount of coverage for a limited period of time, Term insurance is the least expensive. But perhaps you would also like a small, permanent policy for final expense needs while you are medically able to get a good rate. Using the same underwriting exam, you can easily get a large Term policy and a a small Permanent policy at the same time.
A good agent can help you find the most affordable life insurance in the best kind of policy or policies that will work for you. Give one a call; it will be well worth your time.
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Life insurance for supplemental retirement income can use universal life insurance: current assumption, indexed and variable (using separate sub accounts and has market risk.) Determining your risk tolerance and product suitability is critical in forming a financial profile.
A good agent can help you find the most affordable life insurance in the best kind of policy or policies that will work for you. Give one a call; it will be well worth your time.