Life Insurance

There are many kinds of life insurance, but they generally fall into two categories: term insurance and permanent insurance.

Term insurance is designed to meet a temporary need. It provides protection for a specific period of time (for example, 30 years) and generally pays a benefit only if you die during the term. This type of insurance is often suitable if your need for coverage will disappear at a specific point in time. For example, you may decide that you only need coverage until your children graduate from college or a particular debt is paid off, such as a mortgage.

Permanent insurance, by contrast, provides lifelong protection. As long as you pay the premiums (and no loans, withdrawals or other surrenders are taken), the full face amount will be paid. Because this type of insurance is designed to last a lifetime, permanent life insurance accumulates cash value. It is also priced for you to keep over a long period of time.

Which type of insurance is better will depend on your unique circumstances and financial goals. Talk to Rentz Agency to figure out the amount and type of insurance that makes sense for you.

Life Insurance Quote