Life Insurance

Portrait of happy young couple working on laptop together

We offer several different types of life insurance, each with a common purpose — to protect your loved ones from bearing a large financial burden in the event of your premature death. Your needs will change throughout your life, so it’s important to understand the basics and periodically review your coverage to make sure that it’s still right for you. 518Insurance.com will work with you at various stages throughout your life to make sure that your coverage is always appropriate for your needs.

Click here to contact us for Life Insurance Quotes>>>

Life insurance is intended to provide for your family’s financial security, and can help bring peace of mind. Calculating the right amount of coverage to suit your situation can be difficult, and it depends on your personal goals and objectives. 518Insurance.com’s  experienced agents will work closely with you to formulate the types of insurance and amounts that will meet the changing needs of you and your family over the course of a lifetime.

 

There are two basic types of insurance – temporary insurance, which includes Term Life and Group Life, and permanent insurance, which includes Whole Life, Universal Life and Variable Universal Life. The choice between temporary and permanent insurance will depend upon your personal goals and objectives.

Term Life is one of the simplest, most cost-effective types of life insurance. Generally, it provides the largest immediate amount of protection for the lowest cost. With Term Life, your beneficiaries are paid the entire amount of your policy (subject to your policy’s provisions) if you die during the term, which is typically from 5 to 30 years. People who purchase Term Life generally have a substantial need for insurance protection during a specific period of time. They may be young and have growing families, and need temporary protection now with the option to convert to permanent coverage later. Group Life insurance is typically offered as an employee benefit and also by some membership organizations, such as unions and alumni clubs.

In terms of Permanent insurance options, Whole Life combines the security of lifetime insurance protection with the advantages of tax-deferred cash accumulation. In addition to providing a death benefit, Whole Life policies also guarantee that premiums will remain level throughout the life of the policy, allowing owners to build the cost of their coverage into their long-term financial plans. Universal Life insurance combines the security of lifetime insurance protection with the advantages of policy flexibility and tax-deferred cash accumulation. Within certain limits, policy owners can increase or decrease their death benefit according to their changing needs without having to purchase a new policy. Variable Universal Life insurance (VUL) combines the security of lifetime insurance protection with the advantages of policy flexibility and tax-deferred cash accumulation through investments. People who purchase permanent plans such as these want to make sure that when they die, money will be available to pay final expenses, fund college costs, pay estate taxes, care for an elderly parent, or simply allow loved ones to maintain their lifestyles.

Get Your Free Quote

Did you know you could save $100's on your insurance? There is no obligation to find out how much you could save.
Get A Free Insurance Quote

Top Rated Carriers