Life insurance is a crucial step in planning for your future and the future of your loved ones. It can fulfill promises made to your family if you are no longer around by providing a death benefit to your beneficiaries in return for premiums paid to the insurance company. Life insurance can also provide benefits while you are living.
Advantages of the Death Benefit
Advantages of Living Benefits
The amount of life insurance you select should be dependent on your personal and financial needs. We can assist you in determining an appropriate coverage amount and help you decide on which type of life insurance is right for you.
Generally, you should consider life insurance if you have:
Life Changes - So Should Your Policy
As events happen in your life, your life insurance coverage may need to change to adapt to your current needs. Some life changes that may require you to re-evaluate your coverage include: marriage, divorce, a new baby, purchase of a new home and retirement.
There are several different types of life insurance products available. The most common include:
Term Life InsuranceTerm provides life insurance protection for a specified period of time. If you do not currently have life insurance, term can be a good place to start. It's generally less expensive than permanent life insurance, and is available in varying term periods with fixed premiums from a one- (annual renewable term) to 20-year period (level term). Furthermore, term insurance is sometimes convertible to permanent coverage, providing you with flexibility as your needs change.
Whole Life InsuranceWhole life is a form of permanent life insurance that remains in force during the insured person's lifetime, provided premiums are paid as specified in the policy. Whole life insurance can build cash value.
Universal Life InsuranceUniversal life is a form of permanent life insurance characterized by its flexible premiums, flexible face amounts and unbundled pricing structure. Universal life can build cash value, which earns an interest rate that may adjust periodically, but is usually guaranteed not to fall below a certain percentage.
Grange Life Return of Premium (ROP Term)
Return of Premium Life Insurance is a newly introduced term life insurance policy that provides both death benefit protection and a return of premium insurance feature. Return of Premium Life Insurance is aimed right at one of the greatest objections to term life: "I am probably not going to die, and my money will have been wasted."
Here's how it works: If you keep your policy for the term period, at the end of that time whether 15, 20 or 30 years, Grange Life Insurance Company returns the entire premium that you paid for the insurance.
We provide many types of insurance. As independent insurance professionals, we can help you find the coverage that best suits your particular needs and provides you with the greatest value.
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