One of the most important ways to take care of your family is through life insurance. Not only does life insurance offer comfort knowing the income you would have earned will be provided to your family, but it can also help ensure that your child’s education needs will be met, too.
Determining the type of life insurance and the amount of coverage you need depends on your current life stage and current protection needs. As your needs change, so should your coverage. A Financial Consultant will help you choose the policy that makes sense to the needs of you and your family by guiding you through the two main types of life insurances including:
Term Life Insurance
Term life insurance is a cost-effective form of life insurance that offers coverage for a specified period of time. Often, this type of policy allows you to convert over to a permanent policy should your needs change down the road.
Term Life Insurance may be an option for you if:
- You are looking for an affordable life insurance option that provides maximum coverage.
- Your protection needs include paying for large expenses such as your child’s education or a mortgage.
- You want to purchase an additional supplement policy to your existing permanent life insurance policy.
Permanent Life Insurance
Permanent life insurance often may have higher premiums than term life insurance. However, this type of policy covers you throughout your entire lifetime. A Citizens Investment Services Financial Consultant may discuss the other types of permanent life insurance available including Whole Life, Universal Life and Variable Universal Life.
Permanent Life Insurance may be an option for you if:
- You want to purchase coverage that will not expire as you get older, and last you throughout your entire lifetime.
- You like the benefit of building cash value with your life insurance policy.
- You like the idea that your premiums will stay at a flat rate and will not increase throughout your policy.
- You like flexibility in the options available to you.
Ready to get started?
Schedule a complimentary financial review with a local Citizens Investment Services Financial Consultant to discuss your life insurance protection needs.
As your family’s needs change, so do your protection needs. Even if you already have an existing life insurance policy with someone else, but haven’t made any changes to it in the past five years, a Citizens Investment Services Financial Consultant will be happy to provide you with an objective second look by offering you a complete policy review.
You can also visit a local branch, or we’ll contact you when you fill out the following quick and easy form: