We can help you choose the right life insurance plan in Pennsylvania.
It is important to understand the three types of life insurance available in Pennsylvania.
- Term Life Insurance: Provides protection for a specific time frame, for instance, 20 years. It is generally less expensive than a Whole Life Insurance policy. Frequently term life insurance can be changed to a permanent policy.
- Whole Life Insurance: This is a form of life insurance that remains in force your entire lifetime (as long as you pay our premiums). It is important to note that whole life insurance policies can be an investment as they build value over time.
- Universal Life Insurance: Universal life insurance has flexible premiums but can also build value like the whole life policy which earns through an interest rate that changes occasionally.
The cost of a life insurance policy usually depends on the age and health of the person being covered. Most insurance companies have separate rates for smokers and not-smokers with higher rates for the smokers.
To find out more about life insurance and what policy may be best for you, contact us today!
