Life Insurance

Life Insurance

Unlike other insurance policies, life insurance is not about protecting you from loss or liability.  Instead, life insurance protects your loved ones in the event of your death.  Whether you are looking for a small policy that will keep your family from experiencing unexpected costs associated to burial when you die or seeking a large policy that can replace your income and protect their financial futures, life insurance serves as a way to make sure your death is not financially devastating for your family.  There are two basic types of life insurance coverage.

Whole-life policies combine life insurance with investment policies.  If you die, the insurance pays a fixed amount to your beneficiaries, but part of each premium goes towards investments, so that it builds value over time and you can choose to cash-out the premium to access those savings.

Whole-life policies are a more expensive option because of the cash-out value.  Term life policies are strictly insurance policies.  They generally have lower premiums, because they are not linked to an investment.  Furthermore, term policies are limited to a specific period of time and expire after that, which means that the younger and healthier you are, the less expensive the term life coverage.

 


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1386 Route 9 | Toms River, NJ 08755 | (732) 286-9600


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