Life Insurance

Life Insurance falls into two simple categories:

Term Life Insurance covers a specific period of time, 10 - 30 years, for a fixed premium, for a stated amount , such as $250,000. You pick the number of years and the policy amount. Your age and health determine the premium you are charged. The payments can made monthly, quarterly, or yearly and you can discontinue the policy at any time. Term is most suitable as a low cost and affordable way to protect your family during it most vulnerable time.

Permanent Life Insurance requires careful consideration as it is not suitable for some people. There are four main types of permanent life insurance, Whole life, Universal life, Variable life and Variable Universal life. The advantage with permanent life insurance is that you take one medical exam, pay your premiums and the policy only expires when you reach the age of 100 or cancel the policy. If you do reach that age, the policy pays the stated amount of the policy. If you die before 100 the policy pays the stated amount to your beneficiaries. The cash value gives you the ability to take loans to pay for those planned and unplanned expenses (medical bills, college tuition, policy premiums etc.). Let us review you specific needs to determine which life insurance product best suits you.

If you are interested in learning more, then please contact us at (954) 917-1707 or email us at darren@kerrinsuranceservices.com .