For 100-years we have been helping individuals and families in Western Wisconsin find life insurance. Life insurance can be complicated, and our customers are grateful to have an independent agent help them navigate the decision-making process.
When you think about it, the concept of life insurance is really quite simple. In a nutshell, it helps people provide for their loved ones. It is an effective way to plan for and prepare for the unexpected. The proceeds of a life insurance policy can be used for many purposes, but the most common use is to provide financial support for your loved ones when you are no longer here.
Types of Life Insurance
Life insurance can get complicated when you are deciding which type to purchase and how much you may need. Our experienced agents at Sandeen Insurance will consult with you and help you find the best option for you and your family. We understand it may be difficult to think about your family moving on after your death, but you can count on us to help you make informed choices.
There are basically two types of life insurance: term life insurance and permanent life insurance. Both types provide a death benefit when the insured individual dies, but their other features make them distinctly different solutions to consider:
- Term life insurance is purchased for a specific period of time, ranging from 5 years to 30 years. It is the more economical option, as it provides basic coverage that will expire if you do not die during the specified term. The most affordable type of insurance, young families may consider term life insurance when they want to prepare for the unexpected while needing to manage their budget. Term insurance is a solid solution if you want to ensure that your home mortgage is covered after an unexpected death.
- Permanent life insurance provides protection for your entire lifetime. Common types of permanent insurance are whole life insurance and universal life insurance. Both allow for the accumulation of cash value, which may be used during your life for college expenses, a house down payment, retirement funding or other uses. Permanent life insurance is more flexible than term insurance in that you may be able to increase or decrease premium payments, as your financial situation changes over time.
Top Life Insurance Considerations
There are many things to consider when purchasing life insurance:
- Since life insurance costs are determined by the age and health of the insured individual, it may benefit you to buy a policy sooner rather than later.
- If you have decided to buy a term life insurance policy, you may want to consider converting it to a permanent insurance policy at a later date. At Sandeen Insurance, we can help you review your options for converting policies.
- You will want to buy your policy from an established, highly-rated insurance company that can guarantee its claims-paying ability. As an independent insurance agent, we only work with reputable insurance companies.
Is Life Insurance at Work Enough?
If you have a life insurance policy through your employer, you may think you do not need additional coverage. We can help you determine whether that policy is enough, but consider that if you leave your employer for another job, that protection will stop.
Contact Sandeen Insurance for Life Insurance Quotes
As an independent insurance agent, we represent several national and regional insurance companies. That means we can find the right life insurance to meet your needs at a price you can afford. Contact our office to learn more about protecting your family with life insurance, or call us at 715-386-5825 to speak with an agent today.