Life Insurance

Think Ahead


Life Insurance is selected based on the needs of the owner. Like other insurance, life insurance is a contract between the insured and the company providing the policy. In the event of a premature death, it protects the dependents by covering certain emergency, medical, legal and funeral costs. It is a means of insured income to dependents, if something were to happen. With paying the premium payments to the insurance company, they provide a lump-sum payment to the insured in the event of the insured’s death.
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There are three types of generally known life insurance plans:

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Term Life Insurance


This provides financial stability for certain periods of time such as 10 or 20 years. The premium payment amount stays the same for the coverage period chosen. Term life insurance can be used to replace the loss of income during the working years. This can insure your family’s income and provide stability for the beneficiaries under your policy. This type of life insurance is paid at one time as a lump sum.
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Universal Life Insurance


This provides lifetime coverage. These policies permit you to lower and raise premium payments throughout your life. Universal Life Insurance is typically used to help secure wealth being transferred to beneficiaries. Policies with universal life insurance focus on providing both death benefit coverage and long term income replacement. While Term Life Insurance is intended for a time period, Universal Life Insurance is usually for a lifetime.
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Whole Life Insurance


This provides permanent life insurance for lifetime coverage. The premium payments are usually higher than term and universal’s payments. There is a cash value which can be used as a way of savings. Whole Life Insurance is a good way to conserve the wealth that will be passed on to beneficiaries.

For additional questions, don’t hesitate to speak with a Sure Trust Insurance Professional today!

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