New Parent's Insurance Checklist
You never thought much about insurance, until now.
Protecting your
child's future is on every parent's mind.
There are really only two types of life insurance. Term
life insurance where the cost of insurance increases or permanent life insurance
where the premium costs are level for the life of the contract.
Term Life Insurance is best suited to people who need a
great deal of insurance protection for a relatively small cost. Many people buy
10 or 20 year term insurance. The cost of this coverage will increase every ten years
and the contract will eventually be terminated leaving the person without life
insurance coverage.
Permanent Life insurance also known as Universal Life or
Whole Life Insurance provides coverage at higher costs but will not expire
provided the costs associated with the coverage are paid.
Many permanent Life insurance policies build up a cash
value as a savings portion within the policy where as term life insurance does
not typically build a cash surrender value.
Before we recommend any insurance product we complete a life insurance
needs analysis to determine how much and what kind of life insurance you
require.
