Life insurance offers several benefits depending on the type of insurance that you purchase. The main reason for purchasing life insurance is the death benefit. It benefits your loved ones if you are taken from them. Life insurance does offer more than that however, it offers cash value that can be borrowed against. If you are someone who has trouble saving, it can get you off to a good start. At Pro America Insurance in Naples, FL, we are locally owned and operated and have been in business for 35 years.
Whole life insurance is insurance that stays with you for your whole life, it doesn’t end. It has some advantages especially when it is purchased young. First, it will never go up in price, that’s right it stays the same forever. Second, it earns dividends. While it isn’t the best way to save, it is a way to save. Third, you can borrow against your policy and that can come in handy if the need ever arises.
Term life insurance lasts for a term, It can be 10 or 20 years. The price is usually a lot lower than whole life but when the term is up you have nothing to show for, you are strictly paying for protection. At the end of the term, you may be able to extend the policy but not at the same price.
Life insurance needs are something that changes over the years. You may end up not just buying one type of insurance. Both types may have a place in your long term financial plans. At Pro America Insurance in Naples, FL, we are full-service independent agents and we can offer you policies from top carriers. Stop by our office or give us a call to discuss your life insurance needs.