Choose a Life Insurance Policy That’s Right for Your Family

Individuals wanting to prepare for the financial security of their families should choose a life insurance policy that’s right for their family. If the unexpected occurs, having a suitable financial plan can give your designated beneficiaries peace of mind. This beneficiary payout can be used for funeral expenses, household bills, children’s college education and more. Deciding on the right policy can be difficult for those that never took out a life insurance policy before. It is always best to deal with proven and reputable life insurance companies like Freedom Life Insurance. Individuals can select from a permanent life insurance plan or a shorter term life insurance policy.

Most individuals will choose a permanent life insurance policy. This is the better insurance policy to have if desiring full coverage for your entire life. There are varying beneficiary amounts, and the payments can be higher than term life insurance. However, it is important to know that the younger an individual is when taking out the policy, the lower the payments will be. The great benefit of this type of life insurance is that payment rates never increase no matter how old a policyholder becomes. This type of policy grows interest over time, and the policyholder can borrow against the beneficiary payment amount if desired.

When an individual only needs life insurance coverage for a limited amount of time, then term life insurance might be the best option. This insurance is usually much cheaper with regards to payment amounts. Parents can take out this form of life insurance for a 15 to 20 year time period in order to ensure that their children’s college will be paid for in the event that the parents are not there. This form of life insurance cannot be borrowed from as individuals with permanent life insurance can. To find out all of your life insurance options, it is advisable to speak with a trustworthy insurance agency like Freedom Life Insurance.

Finding a life insurance policy that ensures your family’s future financial needs doesn’t have to be complicated. Contact Freedom Life Insurance or other agency for further details. Read more on Health Depot Association:http://healthdepotassociation.com/carriers/flica-national-foundation-life-insurance-company/

 

How To Choose Between Term And Permanent FreedomLife Insurance

The two categories of life insurance are term life insurance and permanent life insurance policies. Which one you should choose depends on personal circumstances. The following is some ideas to keep in mind when making your decision.

If you just need life insurance for a specific time period than a term life insurance policy might be the better choice. For example, if you have a toddler and you want to make sure there’s money for them to be raised and go to college than a term policy fits the bill. As term policies are less expensive than permanent ones if you need a large amount of insurance but want to keep the costs down than that would be another reason to choose term life insurance.

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Permanent life insurance would be the choice if you want the policy to last as long as you do. As long as the premiums are paid the policy will last no matter how old you get. Another reason to choose this type of policy is if you want the policy to accumulate savings. When you pay the premiums some of it pays for the policy while the remainder is the cash value of the policy. The cash grows on a tax-deferred basis so you don’t have to account for it each year when doing your taxes. The cash value can be used to pay the premiums as well for a while if a situation occurs where you a person can’t make the payment.

Freedom Life Insurance Company of America is a company that offers both of these types of policies. They are a good choice as they have been around since 1956 which shows that they are a solid company. Freedom Life Insurance is based in Fort Worth, Texas, and their policies are sold in the agent’s offices of USHEALTH Group, Inc.

When trying to choose between a permanent or term life insurance policy the agent can help guide your choices depending on your personal needs and situation. Anyone with dependents should consider getting the policy through a solid company such as Freedom Life Insurance

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The Proper Life Insurance Choices Make a Difference

The purchase of life insurance is one of the smartest decisions that anyone can make because of its far-reaching nature of the creation of an instant estate for just pennies on the dollar. The Freedom Life Insurance is one of those companies which has the best interest of its clients and customers at heart and they have sophisticated means of helping customers with their life insurance planning.

There are two essential kinds of life insurance that people need to be aware of and how these two formats work. Term life insurance is really temporary coverage, thus its cost is the least expensive. It is sold and placed in force for a limited term of time, although that limited time can run as long as 30 years. Once the term is up, the policy ceases to exist.

Permanent life insurance lasts for the whole of a person’s lifetime, and that is why it is also called whole life. Whole life or permanent life insurance is fixed in place with the same premium and death benefit for as long as the insured individual lives. If the insured person reaches age 100 then the policy matures and the face amount of the policy is paid to the policyholder. If the insured dies any time before that, the beneficiary is paid the death benefit.

Permanent life insurance has a cash value, or surrender value. The cash value can be borrowed against anytime during the life of the policy up to the amount of the existing cash value. If the insured dies and there is a loan on the cash value, the death benefit will still be paid, but for the face amount less the borrowed amount.

Term life allows for the purchase of a lot of coverage for a small price and permanent coverage will be for longer range goals such as retirement and final expenses. Most life insurance planners utilize both kinds of insurance in their plans because mixing the two together maximizes the potential in both. Freedom Life Insurance agrees with this philosophy.

The Freedom Life Insurance Company has expertly trained agents who can help customers with their life insurance planning. It is wise to set a plan down on paper and then purchase a plan that fits the budget and will last.

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