63% of adults have life insurance but almost 50% of them do not have enough coverage. Plus, 3 out of 10 households are uninsured when it comes to life insurance! Make sure you have the correct policy for your needs.
Life insurance may be the last thing on many of our minds but it is necessary for protecting your family in the unfortunate event of your passing. Benefits can be used for a variety of applications including funeral costs, replacement of earnings for lost wages, or even education benefits for your children.
Think you’re too young to worry about life insurance? There are benefits of starting a policy when you are young and health, so it is worth checking into. Also keep in mind things like getting married, having a child, buying a house, or changing occupations can all affect your policy as well, so keep them current!
Here at Northbrook Insurance, we offer two distinct types of policies: whole and term life insurance. Whole life insurance never expires and will guarantee a payout to the policy holder. On the other hand, term life insurance covers only a specific period of time and does not guarantee you a payout. Because you are not guaranteed a payout, term insurance tends to be less expensive.
Whole Life Insurance…
- Provides Permanent Coverage
- Builds Equity over time
- Can be very valuable in the long run
Term Life Insurance…
- Only covers a specific period of time
- Offers lower premiums
- Rates can change if you renew the policy
To talk to an agent about which type of policy would be best for you contact Northbrook Insurance or fill out the form to the right to get started with a free quote!
Remember life insurance can be very valuable for not only yourself but your loved ones.