Types of Life Insurance - Permanent & Term Life Insurance Billings MT
Company: Estate Conservation Associates
Franklin & Marshall College A.B.
Stanford University M.A.
Years Experience: 34
Supplemental Medicare Insurance,College Planning,401k Rollover From Employer,Income for Life/ Preserve Principal,Medicare Planning,Annuities,Alternative Asset Class Planning,Investment Consulting & Allocation Design,Insurance & Risk Management Planning,Retirement Income Distribution Planning,Education Funding & Financial Aid Planning,Fee-Only Comprehensive Financial Planning,Long-term Care Insurance,1031 Exchanges,Wealth Engineering,Stock Market Alternative,Wealth Management,Life Insurance,Inves
Life Insurance, Financial Planning, Financial Services Professional, Retirement Planning, Investments
Types of Life Insurance - Permanent & Term Life Insurance
Types Of Life Insurance
Life insurance gives you some options
In most cases, term life insurance is your best buy. This is because your need for life insurance actually decreases over time - when your mortgage is paid off, when the kids are already through college and on their own or when you are into your retirement years.
Permanent life insurance provides you with a saving's account coupled with a life insurance policy, in most cases. Premiums tend to be higher in part because many of these policies will develop a 'cash value' over time. Now, if you really want to save money you are generally better off with a savings account. However, for some people, the need to 'liquidate' a life insurance policy in order to get the cash helps to protect these savings.
Think carefully. You'll pay a higher amount for the life insurance at the same time that you are getting the 'cash value' on the policy. Because it does develop a cash value, you are in fact increasing the risk to the life insurance company. Therefore, it's going to cost you more.
For more information regarding life insurance check out the following pages: Life Insurance , Why do I need life insurance , How do I decide what I need , What types of life insure can I get , Permanent life insurance , Whole life insurance , Universal life insurance , Term life insurance , Other types of life insurance and don't forget to check out the How can I reduce life insurance costs page.