You buy life insurance for those who depend on you and your income. While life insurance can be an effective financial planning tool, its main purpose is to replace income that's lost when a wage earner dies. Those who need life insurance the most include principal wage earners and parents with dependents.
If you're the primary wage earner in the family, life insurance is a good way to help provide your family with a stable financial future. If you aren't the primary wage earner in your family,
it's important to have insurance to help cover the financial burden of childcare, funeral expenses, and other unforeseen costs.
Your need for life insurance is dependent on your personal and financial needs and goals. As your life changes, your life insurance coverage may need to be updated to adapt to your new needs. We offer a wide variety of coverage to provide what is right for you, now and in the future.
Individual Term Life Insurance
Term Life Insurance provides protection for a specified period of time. Initially the cost is low for this type of plan, but premiums will increase as you age.
Individual Whole Life Insurance
Unlike term insurance, whole or permanent life insurance has no specified term, subject to policy conditions. A whole or permanent life policy accumulates cash value and calls for premiums to be paid for as long as the insured lives.
Mortgage Protection Insurance
Mortgage Protection life insurance can provide benefits for your family to pay-off the outstanding mortgage balance or provide income for future payments. It can make the difference in your family keeping their home or losing it.
If you are looking for answers about affordable Life Insurance call a benefits specialist at Silas Chapman & Company for a quick no obligation quote and get the answer and the price you're looking for.