Term life insurance, whole life insurance, universal life insurance, variable life insurance, survivor-ship insurance… the list and combination’s seem endless. Do you know which life insurance policy type is right for you? At Lisa Poole Insurance Services we can help. Our dedicated team of life insurance professionals understand California’s market and regulations and can find the right plan – or mixture of plans – for your specific needs.
Term Life Insurance Basics:
- Coverage for a “term” or period of your life
- Lower premiums for a higher coverage
- Rates can change after specific terms expire.
- No equity – cannot be used as cash value
Permanent Life Insurance Basics:
- Exactly like it says – permanent, not for a specific period
- Protection carries with you your whole life
- Can build equity and have cash value
- Higher premiums then term life, but can be more valuable in the long run
Term and Life Together:
- Build lifelong base of whole live coverage
- Supplement specific times of your life with term insurance
When to choose term?
Most people choosing term life have a strategy for long term net worth and need specific coverage for a period of their lives to protect debt, loved ones, and children. For a homeowner with children it might make sense to have a term life policy to cover the mortgage and living needs until their children are old enough to provide for themselves – in this case the term would expire around the time your children move out.
When to choose whole life?
Whole life can be used in the retirement years as cash assets. It can provide equity for loans and have fixed payments that do not increase with time. Many times whole life policies will pay dividends – although not always.
With so many options many people find themselves overwhelmed when they receive life insurance quotes. Let one our life insurance professionals put together the right California life insurance quote for you.
Long Term Care Insurance
There is no question that people are living longer. Although the life span of Americans continues to increase, many individuals don’t thoroughly plan for how they will support themselves when they reach their golden years. If you are determined to take care of yourself and your living expenses as you get older, and are looking for coverage that will help pay for care that receive outside of a hospital, purchasing long term care insurance (LTC) may be your answer.
There are tons of expenses that come with getting older. In addition to doctor’s visits and prescription medication, there may come a time when you may need to move out of your home. When you were younger, you might have thought that you would never live in an assisted living center or nursing home. But now that you are older, your home seems to be a bit too large for you, and your health may require that medical personnel be close by. In order to be able to move to a place where you can get the care you need, long term care insurance can help lower your out of pocket costs. And if you choose to stay in your home as you age, long term care can help you handle the costs of getting care in your California home.
No matter how you choose to live out your retirement, long term care insurance can help you maintain your independence while taking the burden of care costs off your family. It’s never too early to consider long term care insurance. Contact Lisa Poole Insurance Services today for a free quote.