Life Insurance

If you have a family or have people who depend on you and your income, it's time to look into life insurance.  A life insurance death benefit can pay off debts, pay expenses and cover funeral and estate costs.
There are two types of life insurance.  Term Life and Whole Life. 
Term life insurance covers an individual for a specific time period.  Term life offers the most coverage at the least cost to the insured.

Universal life combines a death benefit with a cash value component.  Cash value offers protection over the insured's lifetime.  Some universal life policies base their ultimate value on profitability of stocks and bonds.  Universal life policies have higher premiums, but have a dual purpose to serve as a death benefit and as a financial/retirement investment.

Once you decide which type of life insurance is for you, it is time to decide the amount of protection you need to provide for loved ones.  Compile a list of household expenses, mortgage payments, credit card debt, loans, funeral expenses and future education expenses.

How do insurance companies determine premium?  It depends on your age, health, tobacco usage, family health history and what type of life insurance you choose.  The earlier you purchase life insurance, the lower the premium for the life of the policy, if you choose term.

Call one of our agents today at Freedom Insurance Group  215-673-0300 to learn more about how you can protect your loved ones financial future.