Life insurance is a great way to shield your loved ones from financial devastation that may follow your demise. Life insurance, unlike auto insurance, is not mandatory in most states. However, that doesn’t mean that it is less important. It is one of the most critical coverages to carry as long as you live. Silverton Insurance Specialist, LLC offers customized life insurance plans for your lifestyle.
How Life Insurance Works
A life insurance plan is simply a binding contract between the insured (you) and the insurance company (carrier). It’s an agreement that you will pay a particular premium value for a specified duration in exchange for a lump sum payment from the insurer at the end of the contract or a death benefit to your beneficiaries when you’re gone. Different plans are customized to meet the needs of the insured, so don’t settle for something that doesn’t meet your needs.
Life Insurance Coverage Plans
There are three common forms of life insurance. Permanent life insurance, sometimes packaged as whole life insurance, gives protection for the entire lifespan of the policyholder. Term life insurance provides protection for a specified duration on time. Universal life insurance provides flexibility by offering components from both portions of term life and whole life packages. Please note that all kinds of life insurance plans are exempted from income tax.
Silverton Insurance Specialist, LLC provides life insurance coverages that you can rely on. Whether you’re looking for whole life, universal life, or term life insurance plans, we’ve got you covered. Visit our offices and speak to one of our experienced agents who will weigh your options and design a flexible plan that suits your lifestyle and budget. You can also give us a call or head straight to our website for further information on life insurance.