Life insurance gives you the peace of mind you only get from knowing that you’ve protected your loved ones. In the event of your passing, life insurance provides money directly to your beneficiaries. They can use the money for whatever they want, such as:
- Make up for your lost income
- Fund your child’s education
- Paying off household debt
- Paying for your funeral and other related expenses
In addition, Permanent Life Insurance offers a cash value component which can be put to good use during your lifetime. SIG offers two types of life insurance solutions: Term Life Insurance, and several types of Permanent/Whole Life Insurance:
- Term Life Insurance for temporary simplified coverage and no cash value.This is the simples and cheapest type of life insurance. It means you are insured for as long as you maintain the policy, for a stated term. Term insurance is well suited for those on a limited budget, giving them peace of mind that their families will be taken care of in case the worst happens.
It can be positioned to pay off a large loan such as a mortgage or home refinance. Term life insurance is known for the low monthly payments for young people relative to the high payout. Insurers offer term insurance policies providing level premiums of 5, 10, 20 and 30 year terms.
Claims filed on term life insurance will be satisfied as long as the premiums are up to date, the insurance contract has not expired and if no claims are filed. There are no returns of premium dollars if no claim is filed by the insured. Whole Life Insurance for permanent coverage, with guaranteed premiums, death benefits and cash value growth.
- Whole Life Insurance for permanent coverage, with guaranteed premiums, death benefits and cash value growth.Unlike Term Insurance, Whole Life Insurance continues as long as you live and continue making premium payments. Because Whole Life Insurance premium levels are permanent, it is most economical when purchased when the insured is young.
Whole Life Insurance is set up to function not only as insurance, but as a kind of cash fund to assist you with short-term financial needs. As long as your policy remains intact, you can borrow against it and loan yourself money at the current interest rate.
- Universal Life Insurance for permanent coverage, flexibility and less emphasis on cash value.
- Variable Universal Life Insurance for permanent coverage, and potentially higher cash value through investment options, but you accept some risk.
- Survivorship Life Insurance for lifetime protection for two people that pays a benefit upon the passing of the surviving insured.
Consider taking a moment to browse through our comprehensive Glossary Of Terms HERE.
For peace of mind, nothing beats a life insurance plan that guarantees financial security for your family in case you are gone. While nobody likes to contemplate their death, worries about loved ones left behind is one less burden on your mind when you have life insurance.
It means that your family could endure a major loss and still remain in the family home. Your children would not have to cancel college plans. Your spouse would have money necessary to pay for your funeral, finalize estate matters, pay debts that you may have incurred and still be able to retire in comfort.
When you are considering purchasing a life insurance policy, look to us here at SIG to locate you the best policy that fits the needs of you, and your family. There are a myriad of life insurance policies out there, and we pride ourselves in working directly with our customers to understand their needs. Contact Us or Request A Quote and we will be in touch with you right away!