Life insurance is not to benefit you but to help the loved ones you leave behind. There are many life insurance options available.
Term life insurance: This is designed for you to cover a need for a period of time, such as purchasing a 30-year term plan in order to help your loved one pay off your 30-year mortgage in the event of your death. Term insurance is normally the lowest cost form of life insurance available.
Whole life: This is a permanent plan for which you pay a monthly premium and the premium remains fixed for the rest of your life. Some whole life plans have payments for a period of 20 or 30 years at which time it would be paid up (no more premiums) and the full death benefit will be paid at your death.
Universal life: This is a hybrid policy between term and whole life.
Final expense: This is normally more expensive than the others because it is bought later in life when a person typically has more health problems. Some are guarantee issues and the full benefits don’t get paid if you die within the 2-year period of your policy. You get the benefits 2 years after your policy is in force.
the experienced team at John Pepe Insurance Agency today to discuss your options.
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Call us at 352-613-9702 to discuss your options and to get a FREE consultation.