Life Insurance Information
What is Life Insurance?
Life insurance pays out a sum of money on the death of the insured person or after a set period of time. Having sufficient life insurance coverage assures that your family can maintain their home and lifestyle in the event of your death.
Types of Life Insurance
There are many kinds of life insurance, but they usually fall into two categories: term insurance and permanent insurance.
Term life insurance provides coverage at a fixed rate of payment for a limited time called the policy term. If the insured dies during the policy term, the death benefit will be paid to the beneficiary. After the policy term expires, coverage at the previous fixed rate is not guaranteed and the insured must either forgo coverage or obtain a new policy. Term life makes sense when you have a need for coverage that will disappear at a specific point in time. For instance, you may decide that you only need coverage until your children graduate from college or a particular debt is paid off, such as your mortgage.
In contrast, permanent life insurance provides lifelong protection. As long as you pay the premiums, and no loans, withdrawals or surrenders are taken, the full face amount will be paid. Because it is designed to last a lifetime, permanent life insurance accumulates a cash value and is priced for your to keep over a long period of time. Whole life and universal life are two types of permanent insurance that we offer.
It is impossible to say which type of life insurance is better because the kind of coverage that is right for you depends on your unique circumstances and financial goals.
Life Insurance Made Simple
At Pepe Insurance, we make getting life insurance easy. We take your application information just once and use our resources to research many top-rated life insurance companies to find the best options for your needs. Each person is unique and we find the company that will give you the best coverage at the best price.
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Life Insurance Quote Forms
Looking for coverage? Click any of the following links to submit a quote for quick, accurate and affordable rates.