LIFE INSURANCE
Life insurance is a vital part of securing the future for both you and your loved ones. A life insurance policy ensures that, in exchange for paying premiums over time, your designated beneficiary will receive a lump sum payment upon your passing. This financial support can help cover bills and provide for your family's living expenses. It’s important to review and adjust your policy after major life events, such as buying a home, getting married, or having a child.
Life Insurance Options
Universal Life Insurance
Universal Life Insurance is a type of permanent life insurance known for its flexibility in premiums, face amounts, and pricing structure. As a policyholder, you have the ability to review and adjust the savings component, premiums, and death benefit as your circumstances change.
Whole Life Insurance
Whole Life Insurance, also a form of permanent life insurance, remains active for your entire lifetime, as long as the specified premiums are paid. Both whole and universal life insurance policies are designed to be permanent. With these policies, you can build cash value over time, which may allow you to borrow against the policy if needed.
Term Life Insurance
Term Life Insurance provides coverage for a specific period, or term. If you pass away during this period, the insurance company will pay a benefit to your beneficiaries. However, if you outlive the policy term, there is no payout or refund. Term Life Insurance offers protection for a defined period and can often be converted to permanent coverage, giving you flexibility as your needs evolve.
Choosing the Right Life Insurance
When selecting a life insurance policy, consider your financial goals, family needs, and budget. It’s essential to evaluate the various options available and consult with an agent at Jensen Insurance to determine the best type of coverage for your specific situation.