There is a point in every adult’s life when they realize that they need to plan for the future. Life insurance can be confusing and complex, term life and permanent life insurance are the two options but are very different. Enlist the help of Freedom Life Insurance to explain the differences between the options. They are experienced their field, offer premium life insurance, and can answer even the most difficult questions.
Term life insurance is only for a set period of time such as 20 years for example. This means that once the 20-year mark is reached the insured party will have to purchase a new policy after coverage ends as it does not roll over automatically. At the end of the term, the policy can be renewed in most cases. Freedom Life Insurance offers quality term-life insurance to meet everyone’s needs. For individuals that would prefer to skip a physical examination, there is an option to have a convertible term policy that can be turned into a permanent policy. The catch is that the premiums are much higher. Term policies do not accrue cash savings and the premiums increase with age.
Permanent life insurance covers the insured the entire course of their life after the initial purchase. It doesn’t matter how old the insured lives to be. These policies do accrue savings that can be borrowed against. Generally, permanent life insurance policies cost more, but it is important to realize that term life insurance may start out inexpensive and end up very expensive. A major benefit is that permanent life insurance rates do not go up. Freedom Life Insurance can help explain and navigate through the different types of permanent life insurance. There are whole life, universal life, variable life, and universal/ variable life insurances to select between.
For those shopping around for life insurance, let Freedom Life Insurance help. Their ample experience in-depth knowledge will ensure all parties are satisfied with their decision. They are the ideal guide to a complex process.
Read more on Health Insurance:https://www.ehealthinsurance.com/ehealthinsurance/benefits/ifp/IHC-MultiState/IHC-MultiState-FreedomChoice-BR-0811.pdf