Affordable Life Insurance

Have you given any thought to what might happen if you pass on? Who will be responsible for the bills? Who will make sure your spouse has enough money to live on and continue to raise the kids? Leaves a pit in the bottom of your stomach doesn’t it. Affordable Life Insurance is in your reach.

Here is what to expect when you start the process.

1. Let’s get an idea on how much you will need to make sure you plan for enough.
2. Next we do a quote – No money needed at this time.
3. Do an application – Again, no money just yet.
4. Accept offer from company – Payment from checking, debit or credit card.

No money is ever collected ahead of time until you are happy with the plan.

During the quoting process, most insurance companies are looking at your age, health and lifestyle. These areas will determine rates.

Common Types of Life Insurance

There are several different types of life insurance policies available — the most common include the following:

• Term Life Insurance
  Term life insurance provides protection for a specified period of time. If you do not currently have life insurance, term can be a good place to start. It’s generally less expensive than whole life insurance, and is available in varying time periods with fixed premiums from a one-year (annual renewable term) to 20-year (level term) period. Furthermore, term life insurance is sometimes convertible to permanent coverage, providing you with flexibility as your needs change.
• Whole Life Insurance
  Whole life insurance is a form of permanent life insurance that remains in force for your entire lifetime, provided premiums are paid as specified in the policy. Whole life insurance can be an investment opportunity, as many whole life insurance policies also build cash value over time.
• Universal Life Insurance
  Universal life is a form of permanent life insurance characterized by its flexible premiums, face amounts and unbundled pricing structure. Universal life can build cash value, which earns an interest rate that may adjust periodically, but is usually guaranteed not to fall below a certain percentage.

So what type of life insurance is best for you? Talk with us at Blue Paddle Insurance Agency today at 701-760-0531. We can assist in identifying the best protection for you.

Advantages of Life Insurance

Not only can life insurance provide assurance for your family after you are gone, many life insurance options offer other benefits and investment opportunities you can take advantage of while you are living.

Advantages of the life insurance death benefit: When you pass away, your life insurance provides income tax-free money to your named beneficiary or beneficiaries that can be used to pay funeral expenses, debt, tuition, estate taxes or virtually any financial need. Your policy can help provide security for your business as well, by enabling partners to buy out the interests of a deceased partner and prevent a forced liquidation.

Advantages of Living Benefits: The cash value growth of a whole life insurance policy is tax-deferred, meaning you do not pay taxes on the growth of cash value, unless money is withdrawn. Loans or withdrawals can be taken against the cash value of a whole life insurance policy to help with expenses, such as college tuition or the down payment on a home.