If you’re considering life insurance, one of the first decisions you’ll have to make is whether to get term or permanent life insurance. Understanding the differences between these two types of life insurance is important.
The professionals at THINK Insurance & Financial Services, servicing Pomona, CA, can help you with this. We can answer your questions about term and permanent life insurance, to help you choose one or the other types of life insurance for your needs. Here’s what you need to know.
What Is Term Life Insurance?
Term life insurance is a type of life insurance that only pays if the policy is active. Term life insurance policies only remain active for a set period. This period may be ten, twenty, or thirty years, depending on the type of policy you choose. Some types of term life insurance can be extended beyond the original length of time, but once the term is over, then the benefit is no longer available.
What Is Permanent Life Insurance?
Permanent life insurance is a type of life insurance that can remain active for as long as you are alive, provided that you continue to pay the premium. When you die, no matter when that happens, permanent life insurance will pay a benefit to your beneficiaries.
Which Type of Life Insurance Is Best?
Some people choose term life insurance because it is more affordable. Often, people want this type of life insurance because it provides protection when their children are young. Others choose permanent life insurance because they want to know that their loved ones will be cared for no matter when they die.
Contact Us for Life Insurance
Regardless of which type of life insurance is right for you, the professionals at THINK Insurance & Financial Services, servicing Pomona, CA, can help you find an insurance policy that’s right for your needs. To get started with life insurance, contact us today.
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