Is Life Insurance Really for Me?

it's not only for your Grandparents

  
Some of these benefits include:

  • Replacing the income (after the death of a wage earner) that a family will need to survive

  • Paying off loans (including mortgages, personal or business debts)

  • The creation of a fund for the education of children in the family

  • Coverage of final expenses, such as funeral costs/taxes

  • The creation of an emergency fund which can serve to support family members in times of crisis
  

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Life insurance can be just the thing you need to ensure security and comfort for your family.  As your agent, I don't intend to sell you something you can't afford or that won't be beneficial to you.  I just want to present you with your best options-the decision to buy is up to you.

There are so many uncertainties in life, particularly in today's economic atmosphere.  Protecting your family's financial security has never been more important.

The loss of any family member is traumatic, but the loss of a wage earner can be devastating without adequate life insurance.

As a professional life insurance agent with 17 years experience, I have seen far too many families suffer the additional pain caused by a lack of adequate life insurance when a wage earner was lost.  Sadly, this added pain did not have to occur. 


Faunus M. Doney , BSc. DD
Sr. Sales Manager
Insurance & Estate Planning Specialist


Affinity Insurance Group of Alaska
Palmer |Valdez |Kenai

www.affinityalaska.com

907.707.0964

  1. What Type of Insurance is Best for Me!
    Their are man different kinds, to serve a variety of purposes. Contact Us today, to learn about your options.
  
Understanding The Different Types Of Life Insurance Policies

The number and different types of life insurance policies available on the market can be overwhelming and confusing to choose from, especially if you have never purchased a life insurance policy before.  Understanding what types of policies are available to you and what they can offer, even before beginning the search, can make it easier and less time consuming.  Here is some basic information about the types of life insurance policies that you can purchase, and how to select the one that is right for you.

Types Of Policies

There are two general categories of life insurance policies: temporary and permanent.  They both include coverage in the form of a payout to your chosen beneficiary in the event of your death, but the additional benefits these policies can offer you differ, namely from their investment possibilities to providing coverage for an inexpensive premium.
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Temporary Life Insurance
The most common type of temporary life insurance policy is more commonly known as term life insurance.  This type of insurance offers you death benefit protection for the term of the policy, typically 10 or 25 years.  At the time the term expires, so does the policy, though many offer renewal options at an increased premium.  The benefit of term life insurance is that it offers maximum payout for the lowest premiums.  This is especially true the younger you are.
 
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Permanent Life Insurance

Whereas there is really only one type of temporary insurance policy, there are a number of different options in the permanent life insurance market.

  • Whole Life Coverage-This includes guaranteed death benefits, guaranteed cash values, and the security of a fixed annual premium.

  • Universal Life Coverage-This option provides you with greater flexibility in both premiums and potential return.  It still offers both a payout in the form of life insurance coverage and the potential of a cash value to increase with the term of the policy.

  • Limited Pay-This is basically permanent and term life insurance combined in that you only pay premiums for a specific term; however, you still receive the death benefit after the term expires, though usually at a reduced rate.

  • Endowment-This type of policy, which is similar to annuities, acts more as an investment than does traditional life insurance.  The principal is protected and a payout is guaranteed, but the premiums are much higher than those of other types of life insurance.