There are two main types of life insurance, and you need to know how they differ before you choose the best one for you. It’s important to have life insurance, and we can help. Just give us a call at Integrity Advisors Agency LLC in San Antonio, TX to find out more.
Life Insurance: A Comprehensive Guide
Term Life Insurance
When you get term life insurance, you get a policy that is in effect for one specific term. This is often about 20 years long. The policy is active during this term, and it expires at the end of it. The major benefit of this type of insurance is that it’s the lower-priced type of life insurance. Many people find that it is more affordable and comes at a reasonable price. That’s why this type of insurance is so popular. Once the term has ended and the insurance has expired, you need to find a new insurance policy and apply again.
Whole Life Insurance
A whole life policy works much differently. Instead of being good for a specific term, it stays in effect for life. No matter what age you reach, the policy will stay in effect if you keep making your payments. Many policyholders choose this type of insurance because they won’t have to apply for a new policy. Whole life insurance does cost more, but it builds a cash value over the years. This is an amount of money that you will be able to borrow against if you should ever need to. It’s helpful to have it available in case of a financial emergency.
Call Us For Life Insurance
Having life insurance is an important way to provide for others in the future. If you need a life insurance policy, call us today at Integrity Advisors Agency LLC in San Antonio, TX.
