092121 What Are The Different Types of Life Insurance?

Types of life insurance generally fall into two categories…

term life insurance and permanent life insurance.

Term life insurance

Term life insurance provides protection for a specific period

of time (the term). This is often 10, 20 or 30 years. Term life

insurance makes sense when you need protection for a

specific amount of time… for instance, until your kids

graduate from college or your mortgage is paid off.

Term life insurance typically offers the most amount of

coverage for the lowest initial premium. This makes this type

of life insurance policy a good choice for those on a tighter

budget.

Permanent life insurance

Permanent life insurance provides lifelong protection for as

long as you pay the premiums. It also accumulates cash

value on a tax-deferred basis, which you can tap into to buy

a home, supplement your retirement income, cover an

emergency expense and more.

Because of these additional benefits, initial premiums are

higher than what you’d pay for a term life insurance policy

with the same amount of coverage.

You Might Want a Mix

Depending on your circumstances and financial goals,

sometimes a combination of term and permanent insurance

is the answer. Get an idea of the types of life insurance

policies that could work for you by using our Product Selector.

https://lifehappens.org/life-insurance-101/

Hayden Childs

Alabama Licensed Agent

(205) 269-1382

Shcmail34@yahoo.com

www.haydenchilds.net

Comments

083121 Do You Know the Whole Life Story?

Change comes at us from every angle as people update and upgrade everything from their diets to their devices, seemingly every day. When we enter adulthood as a young professional, we never imagine that we are only a couple dozen phones or a handful of trendy diets from marriage, parenthood or even retirement. Diets and devices can be great, but not all change is good, right? At every stage of life, financially confident people know that they can embrace the good and safeguard against the not-so-good with solutions designed to do just that. Enter: whole life insurance. Not just your parents’ insurance, whole life can actually benefit you no matter where you are in life. THE BEGINNING: YOUNG PROFESSIONALS When we’re young and focused on our dreams, we rarely consider the possibility of an unexpected, devastating change. What would happen if you died prematurely? It may be unsettling to think about, as it would be very painf...

101724 What Cancer Cannot Do...

“Cancer can take away All of my physical abilities. It cannot touch my mind, It cannot touch my heart, And it cannot touch my soul.” Coach Jim Valvano *** What Cancer Cannot Do Cancer Is So Limited Cancer Cannot… Cripple love! Corrode faith! Eat away peace! Kill friendship! Silence courage! Invade the soul! Quench the spirit! Destroy confidence! Reduce eternal life! Erase the promises of God! Obliterate happy memories! Shatter the hope of Heaven! Lessen the power of the resurrection! Keep the faithfully obedient from Heaven! - Dr. Robert L. Lynn *** To all walking this road… Blessings and love. Cancer took away from me Two special ladies in my life. My mother and mother-in-law; Knowing I will see them again And knowing they are in a Better place gives me hope And comfort. - Hayden Childs *** Don’t worry your life away Waiting for the elusive prize At journey’s end. The journey is the prize. - Marsha Mercan *** In this world it is not what we take up, but what we give up, that make...

080822 Less Common Life Insurance Needs

On top of the most common reasons for buying life insurance, It can help cover some less common needs. These could include… *Insuring Children Buying a policy on a child can ensure that the family will financially Survive the loss of the child, but keep in mind that such a loss is Fairly unlikely. It can also ensure the child’s ability to qualify for life Insurance in the future. That could be helpful in the case of a health Diagnosis that might make it harder to pass the underwriting process. *Replacing Retirement Benefits Life insurance is often marketed as income replacement for an Insured person during their working years, but some retirees may Choose to keep theirs after leaving work. It can be used to replace The loss of any retirement income for their spouse or any dependents. *Investment Permanent life insurance can provide you with a potential income Source. You can access your cash value once it has buil...

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