You know you need life insurance, but choosing the right life insurance for your needs can be confusing. Freedom Life Insurance is here to help. There are many factors to keep in mind when choosing a policy. Consider the following guidelines before making your decision.
Do you need life insurance for a measurable length of time? If you have a young, growing family, or a debt that funds will be needed to pay off, for instance.
Do you have a limited budget? If these fit your scenario, then it is best to look into term life insurance. Term life insurance gives you the option to pay a minimum amount for a predetermined length of time. Death benefits are only available while the policy is active, so it needs to be renewed continually in order to keep your benefits.
On the other hand, if you want life insurance long term, permanent life insurance is the way to go. This type of policy accumulates over time. There is a savings feature added in as well. This can provide a short term source of borrowed funds regardless of your credit score, or can be rolled into the life insurance premium payment. When looking into permanent life insurance, Freedom Life Insurance can help you navigate between different policies. There are a number of choices such as, whole life, universal and variable, as well as combinations of these plans.
Since an individuals needs change throughout their life, there is also the option to look into Freedom Life Insurance policies that are convertible. These give you the freedom to convert from term to permanent without a medical exam. It is important to note that the cost of the different policies can change over time. Getting properly insured at a young age is the most beneficial choice all around. Read more on Health Depot Association:http://healthdepotassociation.com/carriers/flica-national-foundation-life-insurance-company/