Life Insurance
LifeInsurancePolicy
No matter what stage you are in life, it’s never too early or too late to plan for the future. Having a life insurance policy is an important safety net to protect your family no matter what the future brings. At Sharpe Insurance, we will work with you to assess your needs to find the life insurance policy that works for you and your family.
Different types of life insurance offer unique benefits with varying levels of expense. While the choice in plans can be overwhelming, a Sharpe Insurance agent
can take the time to sit down with you. We will discuss your financial goals and understand your needs.
Term Life Insurance
Term life insurance is a policy that will pay a death benefit for only a specific period of time. Unlike permanent life insurance options, term life expires at the end of a given term and does not carry any cash value at the time of termination. Because insurance rates are based on the statistical likelihood of paying a death benefit, a term life policy can be very affordable. Term life insurance features fixed premiums and are based on the policyholder’s health, age, smoking status, and other lifestyle factors. Term life insurance is a great solution for young families who are just starting their careers or anyone who is carrying debt and wants to safeguard their financial future.
Whole Life Insurance
Whole life insurance is a policy that is guaranteed to last for the whole of your life and will pay a death benefit as long as you continue to meet the terms of the policy, including paying premiums. Different from term life insurance, whole life is an insurance plan that does not expire, but actually gains cash value for the life of the plan. This means that in addition to a financial safety net, a whole life policy can be a financial tool for retirement. Because a whole life policy pays a guaranteed death benefit, premiums are more expensive than a term life insurance policy.
Universal Life
Universal life insurance is another form of permanent life insurance but has more flexibility than a whole life policy. Universal life has a guaranteed death benefit as long as the terms of the policy are met, but unlike a whole life policy, the premiums and death benefits can be adjusted over the life of the policy. As the cash value of a universal policy grows, that capital can be used to pay premiums, allowing the policy holder to skip payments without their policy lapsing.
Affordable Life Insurance
Finding the appropriate amount of life insurance can be a daunting task. Let the professionals at Sharpe Insurance meet with you to come up with a policy that protects your future.
For the best life insurance policy options, contact a Sharpe Insurance life insurance agent
today for a free estimate.
Helpful Life Insurance Terms