Protect your family and keep your promise of a bright future.
Life insurance plays an important role in providing protection and security to families that would otherwise have to endure a much lower quality of life having to face an unknown future. The primary benefits for the policy owner is “peace of mind” in the knowledge that their death will not mean financial hardship for family and loved ones. And, the beneficiaries obviously sleep better knowing that they will not have to endure financial turmoil along with the inevitable emotional distress.
There are many kinds of life insurance, each providing a unique array of benefits to the policy holder and their family. Stewart, Brimner, Peters & Co. agents are experts in all aspects of insurance and can review your personal situation and goals to pick the policy that is right for you. And, as an independent insurance agent, SBP works on your behalf and your best interest, not that of one particular insurance company. We will give you the opportunity to select from a wide range of life insurance options from a number of top rated insurance companies.
The number of different life insurance options seem to be limitless and can be confusing, so your SBP insurance professional will walk you through your options, step-by-step, to make sure you have a policy that is tailor made for you and your family’s needs.
Two of the most common life insurance policies are:
Term Life Insurance
Term insurance insures the policy holder for a specific term or period of time. The policy has a face value and does not accumulate any additional cash value over time. When considering a Term Life Insurance policy, there are only three key factors to take into account. First, is the length or term of coverage, second is the face amount or death benefit, and the third is the premium to be paid for the coverage. There are options within Term insurance policies that need to be carefully understood. Policies can be very different in that the face value may remain steady or decline over time and/or the premium can remain the same or increase. Be sure to fully investigate your term life insurance options with your SBP insurance professional to get the policy that is right for you.
Whole Life Insurance
In most cases and unlike Term insurance, Whole Life provides the same lifetime death benefit coverage for the same, stable premium over the life of the policy. Whole Life also provides accumulated cash value, which the industry refers to as an insurance policy with a ‘savings component’. This cash value can be accessed throughout the life of the insurance policy via policy loans and can be deducted from the value of the death benefit with the passing of the policy holder. The primary advantages of a whole life policy are guaranteed benefits, guaranteed cash value and predictable premiums.
There are a number of other life insurance options to consider such as Universal Life, Variable Life and annuities. Each of which can be explained in detail by your SBP insurance representative.