Plan Details
Life Insurance Plans
Life Insurance
Life insurance is an essential part of any sound financial plan. There are two main types of life insurance: term life insurance and whole life insurance.
Term Life Insurance
Term life insurance provides coverage for a specific period of time, typically 10, 20, or 30 years. During this period, if the policyholder dies, the beneficiaries receive a death benefit payout. Term life insurance policies are usually less expensive than whole life insurance policies, making them a popular choice for those who want affordable coverage.
Whole Life Insurance
Whole life insurance provides coverage for the entire life of the policyholder, as long as premiums are paid. Whole life policies offer additional benefits over term life insurance such as cash value accumulation and the ability to borrow against the policy.
Long Term Care Insurance
Long Term Care insurance is often something people don't want to think about. The reality is: 70% of those turning 65 will need some form of Long Term Care. The average stay in Long Term Care is 3.2 years. Depending on where and what care you recieve that cost can be between 4,000 to 8,000 per month. A Long Term care policy started in your 50s can be under $200 per month. The sooner you start it the cheaper it will be.
