You may be curious why anyone would consider a temporary type of life insurance over permanent coverage. One of the main reasons is cost. A term life insurance policy usually has a much lower premium, or regular payment, than a permanent plan. For many of our YourHealthCoverage.com clients, a term life insurance policy serves like a backup plan should the unexpected happen. The death of a spouse who contributes to household earnings, however, could cripple a family’s finances. Term life insurance can provide a death benefit in such a case to help a family begin to recover financially as well as emotionally.

It is important to remember that, while it offers a predetermined level of coverage during the term, term life insurance does expire at the end of that term. If the insured person does not die during that time, the investment disappears.

Permanent life insurance carries a much higher premium along with more security and more options for financial gain. Most permanent insurance policies accumulate a tax-deferred cash value over time that in some cases can be borrowed against while the insured person is alive. Many clients also earn dividends on their policy, which can contribute to savings or be used for other purposes.

With permanent life insurance, you can ensure that your beneficiaries will receive a death benefit no matter when you die. You will need to understand whether or not your plan has a baseline payout that your family can claim after death and how much your plan may be worth as the economy fluctuates. There are several types of permanent life insurance to consider, including whole life, universal life, variable life, and several combination options. At YourHealthCoverage.com, we stay up-to-date with the latest policy options so you can choose the best plan for you.

At YourHealthCoverage.com, our clients nationwide trust us for quality, personalized life insurance policies.

Our certified agents are passionate about helping protect families from the unexpected. We are here to answer your questions and help you at every step of the way with your life insurance, health insurance, and other insurance needs. Contact us today, and we can discuss your lifestyle, budget and needs to find the best policy for you.