Covering you for the ones you love
Life is fragile. What will happen to your family if anything happens to you? Life insurance provides cash to your family after your death. This cash, known as a death benefit, can help replace your income and cover financial needs like funeral costs, daily living expenses and college funding. There are many types of policies, so it’s important to sit down with a professional to determine which is right for you. Serving the greater Springfield, MO area, at The Resource Center, we’ll tailor a policy for your specific needs.
Term life insurance is the simplest form of life insurance. It pays only if death occurs during the term of the policy, which is usually from one to 30 years. Most term policies have no other benefit provisions. Term life policies are best for those who have short-term coverage needs.
Level term means the death benefit stays the same throughout the duration of the policy. The vast majority of people have level term policies.
Decreasing term means the death benefit drops, usually in one-year increments, over the course of the policy’s term.
Whole life insurance is not confined by a policy term. Under this insurance plan, your insurance company will pay a death benefit whenever you die, even if you live to be 100 years old. Whole life policies are best for those with life-long coverage needs.
Universal life (UL) insurance comes in a lot of different flavors, from fixed-rate models to variable ones, where you select various equity accounts to invest in. Indexed universal life (IUL) insurance allows the owner to allocate cash value amounts to either a fixed account or an equity index account.
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