Pro Insurance Group knows that ensuring the security of your family is of paramount importance. Our experienced agents can help you find a plan that guarantees your family will be well taken care of in any event. We offer a variety of plans across term, whole, and universal coverage. Each plan has its unique benefits and our insurance professionals can help walk you through the right one for your unique situation.
Term Life Insurance
Term life insurance allows for coverage over a designated period of time in the case of an unexpected death. These generally cover periods of 10, 15, 20, or 30 years. In the case of an unexpected death during this period, your designated loved ones will receive the benefits to assure their financial security. This, however, does not apply for policies which have exceeded the term and have not been renewed, so term life insurance does require more attention than whole or universal insurance.
Benefits of Term Life Insurance
Term life insurance is typically used to cover funeral costs, cover mortgage payments, pay off debts, or provide income during the time of grief. Term life insurance plans are simple and cost-effective with low premiums, but require renewal upon the expiration of the term. Often used by younger individuals or growing families, these policies allow for planning over a chosen time period with the possibility of changing the plan upon completion of the term.
Whole Life Insurance
Whole life insurance surpasses term life insurance in coverage for the policyholder’s entire life. These policies also include a cash value that increases with the amount of time the policy is held. Whole life insurance is also tax-deferred, which is a significant help for beneficiaries when taking the cash value of the policy.
Benefits of Whole Life Insurance
Whole life insurance policies have fixed premiums, which allows families to reliably budget for the plan. While the premiums do not fluctuate, the cash value continues to grow over time without being taxed. Whole life insurance policies are a reliable part of estate planning in allowing families to accurately plan for any circumstance.
Universal Life Insurance
Universal life insurance plans are sometimes known as adjustable life insurance plans because they are able to be modified as time goes on and circumstances change. Adjusting the plan can raise or lower the death benefit, along with the premiums. These are useful if, for instance, a family member loses their job and you want to lower premiums, or if a family is growing and decides that they need more financial security in the event of an untimely death.
Benefits of Universal Life Insurance
Universal life insurance combines the benefits of term and whole life insurance policies. Universal plans offer the advantages of low premiums from term plans with the growing cash value provided by whole plans. This allows families to plan their benefits and costs based on their changing circumstances and allows for the greatest flexibility among other policies.
Speak With Pro Insurance Group Today
Life insurance policies provide peace of mind for individuals, assuring them that their loved ones will be taken care of once they pass. Pro Insurance Group helps families make informed decisions on what plan is right for them. For more information or to acquire a policy, call us at 833.619.0770 or request a quote online today.