Options that protect your life and family

No one wants to leave their family unprepared for the future. We never know what life has in store, planning today can protect the promise of your family’s tomorrow. We can help.

Life insurance acts as a contract between the policy holder and an insurance company, where the insurance company promises to pay a selected beneficiary a sum of money upon the policy holder’s death. Depending on the contract selected, other events such as terminal or critical illnesses may also receive a payment. The policy holder pays a premium, either in regular installments or a lump sum. Other expenses (such as funeral expenses) are often included.

Life insurance policies can also act as payouts during retirement. Your agent can explain the benefits and drawbacks of such a program as well as any exclusions of policies you’re considering.

There are two major categories of life insurance.
  • Protection policies
    • Provide an insurance benefit for a covered event, typically a lump sum payment to the beneficiary.
  • Investment policies
    • Designed to facilitate growth of capital. These include:

Term Life Insurance

Provides protection for a specific timeframe, for instance, 20 years. It is generally less expensive than a Whole Life Insurance policy. Term life insurance can often be changed to a permanent policy.

Whole Life Insurance

This is a form of life insurance that remains in force your entire lifetime (as long as you pay our premiums.) Whole life insurance policies can be an investment as they build value over time.

Universal Life Insurance

Universal life insurance has flexible premiums but can also build value.  Like Whole Life Insurance, Universal Life Insurance earns through a changing interest rate.

To find out more about life insurance and what policy may be best for you, contact a licensed agent today at The Insurance Advisor Group.

Areas served: Insurance Advisor Group offers car, home and other personal insurance in Pickerington, Ohio and surrounding areas, such as Lancaster, Baltimore and Canal Winchester.