Types of Life Insurance

For many people, having life insurance is a must because there are people who depend on them. If you are shopping for life insurance, there are two main types to choose from. These include term and whole life insurance. Each has its own benefits and drawbacks, and each can give you effective protection for your loved ones. When you need life insurance, contact us at Client First Insurance Solutions in Americus, GA to find out more.

Types of Life Insurance

Term Life Insurance

Just as the name suggests, term life insurance is good for a specific term. That means that it is good for a set number of years and expires after they are over. This insurance comes with the benefit of a lower price than whole life insurance, but it has the drawback of an expiration date. Once it expires, you need to apply for insurance all over again, and the price will likely be higher because you are older when applying for the new policy. 

Whole Life Insurance

Whole life is also described in its name. Whole life stays in place for your whole life with no expiration date. If you keep paying your policy’s premiums, the policy can’t be canceled. Even the providing insurance company can’t cancel it if you keep paying. It does come with a higher price for the premiums than term life, but it has other advantages. One of these is that it builds up a cash value over the years that you have the ability to borrow against should you need to. This can be extremely helpful in the case of a financial emergency when you need quick access to cash. 

Get Your Life Insurance 

When you need life insurance, there’s no time to wait. To get covered, give us a call at Client First Insurance Solutions in Americus, GA.