What price would you put on a financially secure future for your loved ones? At Lillie-Couch Insurance, we know how complicated a family’s finances can be. Losing a loved one is terrible – especially when it means a loss of income or household assistance. Fortunately, life insurance can provide crucial financial support when it matters most. When you depend on us, you are putting your trust in the hands of a local agent who will learn your family’s needs and provide personalized life insurance solutions. Our goal is to help you feel more confident in your family’s financial wellbeing, regardless of what the future may hold.
Life Insurance Coverage Options in Clear Lake, WI
There are two primary types of life insurance – term and permanent coverage. Both offer different benefits that may be advantageous at different stages of life:
Term Life Insurance
Term life insurance is coverage that offers a high-value benefit designed to provide income replacement for dependents. Because of this, many people purchase term life insurance during their working years when both earnings and dependent needs are high. Term life insurance is budget-friendly and generally affordable for most healthy individuals. Terms are pre-selected when purchasing the policy, with coverage usually expiring after 10, 15, 20 or 30 years.
Permanent Life Insurance
Permanent life insurance is lasting protection that never expires so long as premiums are paid in a timely manner. In addition to death benefits, permanent life insurance rewards policy-holders with living benefits, too, in the form of cash value accumulation. Though premiums are generally higher than term life premiums, permanent life premiums build up and may be invested for growth over time. If necessary, policy-holders can borrow against the cash value of a policy, and some permanent coverage types, such as universal life, even allow policy-holders to pay extra premiums up front in exchange for greater payment flexibility later on. Some of the permanent life insurance options available include:
- Whole life insurance
- Universal life insurance
- Variable life insurance
Who Needs Life Insurance?
Everyone, from young children to senior adults, can benefit from life insurance coverage. Though premiums and eligibility vary by insurer and coverage type, life insurance is generally more affordable and easier to acquire the younger and healthier you are when you apply. You also have a greater opportunity to accumulate cash value in a policy that you have held for a long period of time. That is why we recommend purchasing coverage now – not when you think you may actually need it.
Take it from us: Most people never anticipate needing to file a life insurance claim. Perhaps that is why most Americans are so heavily underinsured. Worse, a large percentage of households report having no life insurance at all. When there is a coverage gap between how much life insurance you have versus how much you need, it leaves your family vulnerable to financial hardships – something no one wants to leave behind.
Wisconsin Life Insurance Quotes
There are many times in life when you may need to evaluate your individual life insurance protection to determine if you are adequately covered. Examples include:
- If you have never purchased life insurance
- When you get married
- When you have children
- When you accumulate burdensome debts or financial obligations
- When you co-own a business with another person
- When you get a raise
- When a spouse decides to be a stay-at-home parent or homemaker
- When you take responsibility for other dependents, such as an aging parent
If you live in Clear Lake or the surrounding areas, don’t let another day go by without getting the coverage you need for the most precious thing you own. Call to request your free life insurance consultation and quote today. We look forward to serving you soon.