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Life Insurance: Which Policy is Right for You

Insurance policies are designed to help policyholders save money and stay out of financial troubles, and life insurance is no exception. In fact, some people may argue that life insurance is one of the more vital insurance types. By having a life insurance policy, you can save your family from financial strife when you’re no longer here to provide for them.

Life insurance policies can be utilized for a number of reasons; college tuition, debt, and even funeral costs. As such, the right policy can help your family stay on their feet financially. If you come from a one-income household and that income is yours then you can have peace of mind knowing that when you pass, your family will be taken care of.

With that in mind, everyone’s situation is different, and you need to be sure you have the right policy for you and your family. Life insurance offers two policy types; Permanent and Term Life. Depending on your family and its need will depend on which of these policies is best suited.

Term life insurance policies are designed for the short term and can provide coverage for 10 years, 15 years, 20 years, and so on. These policies are suitable for people with terminal illnesses who may not necessarily need a long-term coverage plan. However, if you change your mind, you can always switch to a permanent life policy.

As the name suggests, permanent life insurance policies keep you covered from the day you take out the policy until the day you die. As permanent life insurance offers more coverage, these policies tend to be more expensive. However, this may not always be the case. If you’d like to discuss your options further, be sure to contact our team.

Final Expense Insurance

Final Expense Insurance
Insurance policies are designed to help policyholders save money and stay out of financial troubles, and life insurance is no exception. In fact, some people may argue that life insurance is one of the more vital insurance types. By having a life insurance policy, you can save your family from financial strife when you’re no longer here to provide for them. 

Life insurance policies can be utilized for a number of reasons; college tuition, debt, and even funeral costs. As such, the right policy can help your family stay on their feet financially. If you come from a one-income household and that income is yours then you can have peace of mind knowing that when you pass, your family will be taken care of. 

With that in mind, everyone’s situation is different, and you need to be sure you have the right policy for you and your family. Life insurance offers two policy types; Permanent and Term Life. Depending on your family and its need will depend on which of these policies is best suited. 

Term life insurance policies are designed for the short term and can provide coverage for 10 years, 15 years, 20 years, and so on. These policies are suitable for people with terminal illnesses who may not necessarily need a long-term coverage plan. However, if you change your mind, you can always switch to a permanent life policy. 

As the name suggests, permanent life insurance policies keep you covered from the day you take out the policy until the day you die. As permanent life insurance offers more coverage, these policies tend to be more expensive. However, this may not always be the case. If you’d like to discuss your options further, be sure to contact our team. 

Permanent vs. Term Life Insurance

Permanent vs. Term Life Insurance
Permanent and Term Life Insurance offer a wide range of options. One of those options is final expense insurance. Having one of these insurance plans can greatly benefit your family when you’re no longer here to financially provide for them. 

Final expense is a type of permanent life insurance that can be used to cover funeral costs, medical bills, and anything else left behind by the deceased. Like with any insurance policy, the coverage and usage vary from state to state. 

Here in Texas, a final expense policy can help family members pay down mortgages, cover debts, or even make car payments. With that in mind, these policies are a great idea to have if you’re worried about your family’s financial situation and don’t want to leave them in a bind when you’re no longer around to help. 

When a family member passes, the last thing you want to be worrying about is the cost of a funeral. Many people aren’t aware of just how expensive these ceremonies can be. A basic funeral can cost upwards of $1000, and that’s before any additional services, such as hiring a hearse, flower cars, or any other amenities. Of course, funeral costs aren’t the only expense you’ll have to worry about. 

In addition, replacing a lost income due to a loss in the family can be incredibly difficult. That is why having a life insurance policy is so important. If you’re hoping to protect your family members from debt and financial struggles, contact Golden Plan Choice and see how we can help. 

Find The Right Policy with Golden Plan Choice

Here at Golden Plan Choice, we are committed to helping everyone find a policy that works for them and their family. We understand that everyone’s situation is different. As such, cookie-cutter policies don’t provide the greatest benefits. That is why our team dedicates its time and effort to help you find a policy that’s right for you. 

Give Us A Call Today

If you’d like to discuss your options with one of our team members, give us a call today and schedule a consultation. We will happily provide you with more information to help you make a confident decision in your life insurance policy.