Life insurance can help you make sure your family is provided for, your child’s educational needs are taken care of, and that your children won’t have to worry about their future.
Although it may sound simple, there are many things to consider. There are many ways to protect your family with life insurance. So, consulting with a life insurance producer can be vital!
There are 3 types of Life Insurance that meet the needs of every individual:
Universal life insurance (often shortened to UL) is a type of permanent life insurance, primarily in the United States of America. Under the terms of the policy, the excess of premium payments above the current cost of insurance is credited to the cash value of the policy. The cash value is credited each month with interest, and the policy is debited each month by a cost of insurance (COI) charge.
Term life insurance or Term Assurance is life insurance which provides coverage at a fixed rate of payments for a limited period of time, the relevant term. After that period expires, coverage at the previous rate of premiums is no longer guaranteed and the client must either forgo coverage or potentially obtain further coverage with different payments or conditions. If the insured dies during the term, the death benefit will be paid to the beneficiary.
No Life Insurance – You do not want to be stuck with this kind of life insurance when you kick the can. Your family and your loved ones will thank you for providing them with financial means of taking on the responsibility you carry when you’re living.
If you’re in need of Life Insurance, the Caldwell Insurance Services are here to help! Contact our office in California at (310) 798-3235 for all of your insurance needs in the Los Angeles or Hermosa Beach area.