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Having life insurance in place is an excellent way to give yourself peace of mind about what will happen to your loved ones once you are gone. A life insurance policy pays a death benefit to your beneficiaries after you’re gone so that they are in a better financial position. Two main types of these are available in the insurance marketplace. You need to know about each to choose when you get your policy. Call us at Linda Dugan Insurance in Astoria, OR to find out more.
Term Life Insurance
This type of life insurance is the least expensive of the main types and fits into more people’s budgets. It is insurance that is only good for a specific term of time. This may be 20 years or so. During this term, the policy is good and will pay out if you die at that time. However, it will expire at the end of the term, and you will have to find a new insurance policy at that point if you still want to be covered by life insurance.
Whole Life Insurance
This type of insurance is more expensive but has some essential benefits. It isn’t good only for a specific term. Instead, it stays good for your entire life even if you become quite advanced in age. This type of insurance also has a cash value that many people appreciate having available. It’s an amount that you can borrow if you ever have a financial need for it. It is paid back just as any other type of loan would be.
Protect Your Family With Life Insurance
To get a life insurance policy of either type, you can call us at Linda Dugan Insurance in Astoria, OR.
503-440-3909
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