What is life insurance and how does it work?

The above video shares information about life insurance at The Family Security Plan®.

Protecting your loved ones should be a top priority, one way to do that is through life insurance. What is life insurance? It’s a contract in which an insurer guarantees payment of a death benefit to named beneficiaries upon the death of the insured, it’s a powerful arrangement that guarantees financial security for your loved ones. All you have to do is a pay a premium for this valuable protection.

How much does life insurance cost, and how is the premium determined?

Well, the cost of life insurance depends on various factors such as the insured’s age, health, and coverage amount. Premiums may be higher for those who are older or have existing health issues. Additionally, the policy’s length and type can also impact the cost. Knowing these factors can help you choose the right policy that works best for your unique situation.

What types of life insurance policies are available?

There are several types of life insurance policies available including, term life insurance, permanent life insurance (such as whole life or universal life) and group life insurance. The Family Security Plan® offers a variety of products such as critical illness, disability, whole life, term life, accident insurance, and hospital sickness insurance.

What is the difference between Term and Whole Life Insurance?

Term life insurance provides protection for a specific period of time. Such as 10, 20, 30 years. While whole life insurance on the other hand, provides lifelong protection and also includes a savings component that can accumulate a cash value. 

How much coverage do I need and for how long?

Determining how much coverage you need and for how long will depend on your individual circumstances such as your income, debit, and financial responsibilities. Seeking advice from a financial expert can greatly help you evaluate and determine your exact needs. 

Protect tomorrow’s future today. Apply now! 855.224.0480 or visit www.familysecurityplan.com.