No one wants to think about their life-ending, but none of us know when it will be time to leave this earth. When your time comes, you will want the peace that comes with knowing that your loved ones are taken care of after you are gone. The life insurance agents at the Richards Insurance Agency, located in Lincoln, NE, can assist you with all of your life insurance needs.
When it comes to life insurance policies, there are three main types that you can choose from, including universal life insurance, term life insurance, and whole life insurance.
Term Life Insurance
A term life insurance policy only lasts for a certain term that you set with your insurance agent at the beginning of the policy. This term could be a decade long or three-decades-long, depending on which you prefer. This type of policy will end at the end of whatever term you chose, but you will more than likely be able to renew it but at a higher premium rate.
Universal Life Insurance
Very similar to term life insurance is universal life insurance. This type of policy is also paid upon for a certain amount of time before it expires, but you can pay a premium that will keep your death benefit in place. This type of policy also offers you a savings account that you or your family can use in the future.
Whole Life Insurance
A whole life insurance policy lasts that long, hence the name. It guarantees a certain payout on the amount you invest into the policy, and you can borrow from it why you’re still alive to pay off debts ahead of time or use it to make repairs and get things for your loved ones before you die.
To choose the type of life insurance policy that works best for you and your family, you should contact the agents at the Richards Insurance Agency, located in Lincoln, NE to get your policy started as soon as possible. Reach out to our office to get a quote and learn more.