Life insurance is a valuable investment mainly to its beneficiaries. Life insurance can pay funeral expenses as well as any outstanding bills and future educational expenses. Therefore, life insurance shoud be chosen carefully. Freedon Life Insurance offers life policies that are available to anyone who wishes to secure the future of loved ones in case of sudden death or death from natural causes.
Freedom Life Insurance offers term life policies as well as whole life and Universal life insurance. Life insurance should be chosen according to overall need as well as affordability. Life insurance can tend to become more expensive as the person ages. Read more on superpages.com to know more.
Freedom Life Insurance offers Term life insurance. Term Insurance offers an option for those who are generally looking to pay funeral costs and leave a little something for loved ones. Term life insurance can be taken out in amounts of just a couple of thousand dollars up to a million dollars. However, most term policies tend to have a value well below the million dollar mark for a variety of reasons. All that is required to secure a term life policy is to pass a general physical which includes blood work.
Term Life policies offer the following:
*Face amount of policy is paid in eventh of death.
*One lump sum payout when policy holder dies.
*Limited financial security for beneficiaries.
What term policies do not provide is a cash or savings benefit which can be quite substantial over a period of years.
Freedom Life Insurance also offers Universal life insurance provides coverage for the policy holder in the event of accidental or natural death. However, a big advantage to Universal life is that over time the policy can build a substantial cash value. Therefore, if the policy holder takes out a policy when they are fairly young if the policy remains in effect until death the beneficiaries can receive a substantial amount of money. In addition, the policy holder can borrow against the policy when the cash value reaches a certain amount.
Therefore, Universal life provides:
*More than adequate coverage for policy holder.
*Cash value / paid at time of death to beneficiaries.
*A savings that policy holder can borrow against if necessary.
One thing to keep in mind is that Universal life can get somewhat expensive to maintain premiums over time. Therefore, depending on your financial position you must decide if Universal life is right for you and the needs of your loved ones.
Whole life insurance is similar to Universal life. Whole life insurance builds a cash value over a period of time. However, this kind of policy builds an annuity value. Therefore, the annuity value of the Whole life policy accrues interest.
Whole life can be used to pay funeral costs and it can serve as a security or nest egg for any beneficiaries of the policy. Once this type of policy begins to build a savings, the insurance company should send the policy holder quarterly statements which clearly show any interest which was added to the savings or annuity portion of the policy.
Again, a policy of this nature can be quite costly. Therefore, make certain you choose a policy which is affordable and one that meets your needs in the event of your death. Visit:https://www.facebook.com/pg/Freedom-life-insurance-agency-Calinan-Branch-938281249582028/about/