Most of us insure our home and auto, but we fail to protect our assets by protecting the loss of income if a spouse was to die prematurely.
Could you afford to pay the mortgage or car payment if that other income wasn't there any longer? If you have children, could the remaining spouse pay for their college education, or just the cost of raising the children?
(It is estimated it costs about 1 million dollars per child to raise them from birth till they leave the house.)
This is what Life Insurance is all about - it gives you and your family the ability to handle not having a parent there to provide their needs. It is estimated it takes a spouse about SEVEN years to get over the hurdle of loosing the other spouse. He or She needs the extra protection that a Life Insurance Policy can provide.
There are three different types of Life Insurance available.
The first is Term Insurance. It is basically renting coverage for a certain number of years(10,20,30 Years). It provides no cash build up in the policy. It only provides the coverage for the term you need it for.
The second type is Whole Life Insurance. This is exactly what it says it is. It will provide the coverage you request for as long as you pay your premium. You can build up a small amount of cash value that you may be able to borrow against for a interest fee and it needs to be paid back to avoid the policy running out of money to keep the coverage in place.
The third type is Universal Life Insurance. It is a lot more flexible than Whole Life Insurance, in that it allows you to have many options on how you pay the policy. You also can chose to make payments for your whole life or pay up the policy early and not have to make any more payments. It has a better rate of return on the cash that is building in it, and it allows you to borrow against the policy and use that cash without repaying, although it may decrease the amount of insurance available at death if you don't repay it.
At Fuller Insurance we have been providing Life Insurance coverage for our clients for over 50 Years. We will sit down with you at your home or our office, and help you determine how much Life Insurance you need, and what type is best suited toyour individual needs.
Do not buy Life Insurance online!!!
You need a expert that can be there for you, not a call center.
We are always telling our clients - "don't leave everything you own, and don't leave your life insurance needs to a call center. These people don't know you, or your needs!"
Don't let you family be unprotected.Give us a call today at (413) 525-6386.Please remember that these are the basic types. There are many variations available. That is why you need the experts at FULLER INSURANCE to help you decide which is best for you.