Selecting the right life insurance plan can become quite confusing because it is a huge decision. Discussed below are simple guidelines to follow when making that all-important decision.
When to Purchase Term Life Insurance
Term life insurance is best when one needs life insurance for a particular period. It enables the client to match their need with the length of the policy provided. A good example is purchasing a 20-year plan to pay for college tuition or repay a debt.
Also, term life insurance is the perfect choice when one needs insurance coverage but has a limited budget. Here, the individual will remain covered until their policy expires or they die – whichever comes earlier. However, unlike permanent insurance, the customer’s cover stops when the designated period is over. See more updates on facebook.
Permanent Life Insurance
Customers who can afford permanent life insurance products are covered throughout their lives. These policies pay a death benefit once the insured dies. Many people prefer them because they accumulate in the form of savings, have tax differed benefits, and are a source of funds in the form of loans. If one dies before they repay a loan secured by their death benefit, the insurer first pays the debt balance before paying what’s left to the designated beneficiaries.
Freedom Life Insurance offers flexible term life insurance products tailored to meet the unique needs of all its clients. It also offers convertible term policies that allow customers to convert to a permanent insurance agreement without the need for a medical examination.
Freedom Life Insurance
Freedom Life Insurance provides flexible products and services across the US. The company offers life, health, credit, accident, and annuities products. It was formerly called Consolidated American Life Insurance Company. Today, it operates as a subsidiary of the USHEALTH Group, Inc. in Fort Worth, Texas.
Choose your providers: At Freedom Life Insurance, workers are adept at assisting you to choose the best provider. This means selecting the best hospitals and doctors crucial in meeting your exact needs. Once a PPO plan is enforced, Freedom Life insurance will go above and beyond to provide discounted rates and subsidized expenses.
For more information about Freedom Life Insurance, click here:http://www.whitepages.com/business/freedom-life-insurance-co-of-america-fort-worth-tx