When you want to leave something for those you will eventually leave behind, it’s important to have a life insurance policy. There are two main types of these policies- whole life and term life insurance. Whole life insurance is a popular type that comes with a number of benefits as well as its own disadvantage- a higher price tag. When you have whole life insurance, you will have something to leave behind to keep loved ones from financial problems.
When you need any type of life insurance, call us at F.I.R.E Leaders Financial in Eegan, MN.
Long-Lasting Coverage
When you get a term life insurance policy, it will expire at the end of its term. The same is not true for a whole life policy. These policies stay in place for as long as you continue to pay for the policy. Instead of expiring, you can keep it no matter what age you achieve. This gives many people peace of mind in knowing that they’re covered for life and never have to buy another life insurance policy.
Cash Value
Another benefit to this type of policy is that over time, it will build up a cash value. This is an amount that you can borrow later if you ever have a financial emergency and need quick cash. This amount comes from a tiny portion of the profits that the insurance company makes from investing in your premium payments. It can take a few years for this amount to get started, and it will grow with time. This can be a great way to have emergency funds available so that you have less financial worry.
Get Whole Life Insurance
If you’re interested in a whole life policy, we’re here to help. Call us at F.I.R.E Leaders Financial in Eegan, MN to learn more.
