Life insurance provides your family with financial support after your passing. Life insurance helps your family members cover basic expenses & bills and even allows for money to be set aside for housing and college for dependents. Having a life insurance policy works just like any other insurance coverage, you pay a premium and the event of your death the insurance company pays off a certain amount to your beneficiaries. The amounts they receive, and the term of the policy depends on what you sign up and qualify for. Best of all, life insurance proceeds are tax free to your beneficiaries.
Here at MVP United Insurance, through our partner brokers, we have expert and experienced agents that can help guide you through the different life insurance options available to you.
What Life Insurance Options are Available?
We have a variety of different options when it comes to life insurance. Depending on your specific needs:
Term Life Insurance – life insurance for a specific period of time, usually cheaper and will only pay if you die within the term of the policy.
Universal and Whole Life Insurance – life insurance that lasts as long as you pay your premium, it tends to cost more but it does offer additional features.
There are many different types within the main types of life insurance, and one of our partner agents can work with you to decide what is the right fit for your needs and budget.
Benefits of having the right Life Insurance Coverage
These are just some of the benefits that you can get once you invest in the right life insurance plan:
Peace of mind – plan ahead and provide financial support for your loved ones after you die. You can’t prevent the inevitable, but you can make it a little easier for your family by ensuring they do not face financial hardship.
Tax benefits – there may be some favorable tax benefits from having a life insurance policy, including tax free money for your beneficiaries, as well as possible benefits on tax free cash withdrawals from your policy.
Generational Wealth – plan ahead and provide financial support for your loved ones and leave a lasting legacy and make sure your family is financially supported for generations to come.
Want to get more information on available life insurance plans? Talk to an insurance specialist today!
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