Don’t let your loved ones worry about what will happen to them when you pass away. Take care of your family with a quality life insurance policy that will meet your unique needs, and guarantee financial security for your loved ones after you pass away.
Life changes – your policy should too!
Each life is unique, and so is each life insurance policy. Each resident of Rockwall has different personal and financial needs, and your life insurance coverage may need to be adapted to fit your current needs. At the Fite Agency, we can make sure that you are covered if you have experienced any of the following events:
– You got married or divorced recently
– You have started or expanded a new business
– You have refinanced your home mortgage within the past six months
– You are financially providing for a parent
– You have a new child or grandchild
– You recently bought a new home
– Your child or grandchild requires assistance or long-term care
– You are planning for your child or grandchild’s future education
– You or your spouse’s health has deteriorated
– You are worried about income after retirement
– You have a sizeable estate
– You or your spouse recently inherited money or property
At the Fite Agency, we will guide you through choosing the best life insurance policy coverage for your specific needs.
Various life insurance policies are available. The most common are:
Term Life Insurance
Term life insurance provides coverage within a certain time period. If you do not currently have life insurance, this kind of policy can be a good place to start. Term life insurance is typically less expensive than permanent (or whole) life insurance, and is offered in a variety of time periods. These policies feature set premiums that range from a one year (with an annual renewable term) to a 20-year (level term) time period.
Term life insurance often comes with the option of eventually converting to permanent coverage, which provides you with the flexibility to adjust your life insurance policy according to your specific needs.
Whole Life Insurance
Whole life insurance will remain in force for your entire lifetime (provided that your premiums are paid as noted within the policy) and is a type of permanent life insurance. Whole life insurance policies are often used by policyholders as investment vehicles, and can increase in cash value over time.
Universal Life Insurance
Universal life insurance is a permanent life insurance option, and is characterized by unbundled pricing structure and face amounts, and flexible premiums. Universal life insurance can also act as a relatively safe investment vehicle, as it can build cash value and earn an interest rate that is typically guaranteed not to fall below a specified percentage.
Are you unsure about which life insurance option is the best for you? Talk with our team at The Fite Agency today: (972) 772-0540, and we will help you find the coverage you need to feel secure.
What are the advantages of having life insurance?
Life insurance provides crucial assurance of the financial care of your loved ones after you are gone. In addition, life insurance policies frequently offer other attractive benefits or investment opportunities that can be very useful to you while you are still living!
Advantages of Death Benefits: If you have a business, a life insurance policy will provide security, enable partners to buy out any interests of a deceased partner, and will prevent a forced liquidation.
Your life insurance coverage will provide income tax-free money to the beneficiary or beneficiaries named on your policy when you pass away, and this money can be used to fund any funeral expenses, debts, estate taxes, tuition costs, or any other financial needs.