Affordable Life Insurance
Protect what matters most
Life insurance policies are unique and depend on your personal and financial needs. As your life changes, your life insurance should evolve. Getting married, having a baby, purchasing your first home, starting a business, or retiring all warrant a review of your life insurance policy.
Executive Southern Insurance can help you weigh your life insurance options. The choices can be overwhelming for the average person, and it's our goal to make the decision easier. We'll look at different insurance companies and coverage types and help you determine the best fit for your current situation.
Life Changes. So Should Your Life Insurance Policy
If there’s one thing about life that is constant, it’s change. Many people purchase life insurance policies when they are just beginning a family or starting a new job. As the years go on, what was sufficient then isn’t now. If any of the following events have happened in your life, consider a policy “tune-up”:
- New marriage
- Recent divorce
- Birth of new children
- Started a business
- Providing care for a disabled child or elderly parent
- Purchased a new home or land
- Refinance a home within the last six months
- Received an inheritance
- Planning for retirement
Adjusting for these life events makes certain that you have the best life insurance coverage right now.
Life Insurance Terms
Here are some common insurance terms you need to know:
Term Life Insurance
Term life insurance protects for a specific length of time. This is a great place for life insurance newbies to start. The benefits of term life insurance is that it’s less expensive and comes with fixed premiums for varying time periods (i.e., one year terms or 20-year terms). Also, if you decide you need more permanent coverage, term life products may be convertible to permanent coverage.
Whole Life Insurance
Whole life insurance is permanent life insurance. It stays in effect for the entirety of your life as long as premiums are paid accordingly. Whole life insurance products also build cash value over time.
Universal Life Insurance
Universal life is a type of lasting life insurance that has flexible premiums, face amounts and unbundled pricing structure. Like whole life insurance, Universal insurance builds cash value. However, it also earns interest at rate guaranteed not to fall below a specific percentage.
The right insurance coverage is different for everyone. To learn more about living benefits and other life insurance terms such as the death benefit, contact Executive Southern.