Will your death put a burden or hardship on someone else, are funds going to be needed to buy out a business partner or do you need to provide income to someone. Life insurance can have many uses and as such there are many types of insuring ones' life.
Before you determine what type of policy you would like it is best to determine the amount of insurance you want to provide. Do you want to cover all expected expenses, do you just want to replace an income or just a specific amount to cover a business buyout or final expenses.
Dowd Financial Group can assist you not only with determining the amount needed for a scenario but also the type. There are two types of policies: term and permanent. Term also known as temporary life insurance is for a specific length of time and does not have a cash value. Whole and universal life are permanent insurance policies with the difference being universal offering more flexible terms than a whole policy. Permanent life insurance policies build up a cash value because part of the premium you pay goes toward building equity. In addition to whole and universal, variable life allows the premiums to conform to the market thus neither the cash value nor the death benefit are guaranteed.
You can get not only information to help you assist your decisions concerning life insurance but also as licensed insurance agents receive multiple quotes from the top insurance companies available. For question concerning insurance or the extensive list of companies we can provide quotes from, contact us today.