Life insurance is an important part of a sound financial plan. It provides a valuable death benefit to your beneficiaries upon your death. Your beneficiaries can then use this money to replace some of the income you would have earned. It can also be used to help pay off debts or other expenses.

The two main types of Life insurance are Term Life insurance and Permanent Life insurance. The one that’s right for you depends on many factors, including your budget, the amount of insurance you need, and the length of time you’d like the insurance policy to last.

Term Life insurance provides protection for a limited period of time. Depending upon the policy selected, time frames can last until the insured reaches age 65, or for a period of 10, 15, 20, or 30 years. If the insured dies during the specified time period, the Term Life insurance policy pays a benefit. Although Term Life policies typically do not accumulate cash value, many do offer a feature that allows you to convert to a Permanent Life policy within a certain time frame. This feature can be beneficial if you’d like to own Permanent Life insurance but your current budget does not allow for it, or if you like having the option to convert to a permanent policy in the future.

Permanent Life insurance policies can provide lifetime protection.  There are several different types of Permanent Life insurance policies, including Universal Life insurance and Whole Life insurance.  Both offer coverage for your entire lifetime and have a cash accumulation feature.

Aspire agents represent many of the top Life companies.  We can assist you in making the right decision for you, your family, and your future ambitions. Aspire for greatness, especially with something as important as life insurance.