Term vs Permanent Insurance

What is the best life insurance to purchase?

There’s no simple answer except “it depends on your needs.”  You see, term life insurance and permanent life insurance are two very different kinds of protection. They satisfy two very different types of needs.

What is the best life insurance to purchase?

There’s no simple answer except “it depends on your needs.”  You see, term life insurance and permanent life insurance are two very different kinds of protection. They satisfy two very different types of needs.

Confused?

You’re not alone – many people find insurance very complex. But it doesn’t have to be that way. Think of the two as different types of homes – term is an apartment, while permanent is a house. Each has its advantages. The best kind of life insurance is the kind that you have when you die!

Term Permanent

▫ Like an apartment – inexpensive at first, but no return.

▫ Like buying a home – more expensive at first, but with the security that equity brings.

▫ Stop paying the premium (rent) and you’re without coverage – great temporary lodgings.

▫ You own the coverage – eventually you can stop paying and still be covered.

▫ No equity – you’re paying for pure protection, and that’s all.

▫ With each payment, you’re building equity. You can borrow against it, use it for collateral, or supplement retirement income with it.

▫ You can expect the cost to keep escalating. Just as rent increases, term gets more expensive every year.

▫ The initial cost is higher, but the return is greater: the cost remains constant until you own it.

▫ Your coverage is temporary … and is therefore great temporary needs.

▫ Protection is permanent.

The best news is that these days most insurance companies offer life insurance products that are a combination of the two basic types. You get the best of both worlds.

Let us help you determine which product(s) is best for you, while ensuring objective advice and insurance best-suited to your needs.

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