Confused About Life Insurance?
-Guidelines from Your Jackson, MS Broker Services

Navigating the world of insurance is tricky and can be overwhelming. Many people make impractical choices while others shut down and forgo making a decision all together. Questions center on definitions and what-ifs. What does term life mean? Should I buy whole life? What if my health gets worse, then what? How do I decide the best option for my family? Choosing to buy coverage is a crucial first step in planning your estate. You need to be able to depend on an experienced broker to sit down with you and help you determine your next course of action.

Types of Life Insurance to Protect Your Family

There is a wide variety of policy types available; however, they fall into two basic camps:

  1. Term Life Insurance: This type of coverage pays out a specific death benefit when you pass away. While you are living, a term of 10, 15, 20, or even 30 years can be chosen. At the end of the benefit period, the policy may be renewed. Generally, when a plan is up for renewal, the premiums increase. Further, it can be categorized into two types:
    • Decreasing Term – Premiums stay the same as death benefits decrease over time.
    • Level Term – Premiums and death benefits are fixed for the life of the term.

    Some term policies allow the purchaser to convert it into a permanent form of insurance.

  2. Permanent Life Insurance: The goal of this type of coverage is to provide death benefit protection for your entire life. There are three types:
    • Whole Life – Death benefits are for life with guaranteed fixed premiums. Also included are guaranteed cash value accumulation and protection until you die. You may be able to borrow against any accumulated cash value.
    • Guaranteed Universal Life – Often described as a hybrid, this type of coverage has low premiums and flexible death benefits and can accumulate cash value.
    • Variable Universal Life – As the name suggests, the value varies based on the value of securities. Something to keep in mind is that the policy is tied to an investment vehicle and the amount fluctuates based on that financial product.

Expert Advice from a Leading Mississippi Brokerage

Choosing your coverage terms does not have to be intimidating. With experienced help, such as from the professionals at the Executive Planning Group (EPG), you can make the best choice for your family’s future. We listen to your needs and work hard to get you the best rates and coverage.

Call us today at 601-982-3000 or request a quote for life insurance in Jackson, MS.

Disclaimer– Securities Offered Through Valmark Securities, Inc. Investment Advisory Services Offered Through Valmark Advisers, Inc.

Executive Planning Group is a separate entity from Valmark Securities, Inc. and Valmark Advisers, Inc.

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