Protection, Peace of Mind, Priceless Life Insurance
What happens to your family if something happens to you? Life insurance is a mechanism to alleviate that situation, so a personal and emotional loss does not become a financial catastrophe as well. The most important function of life insurance is to replace income for one’s dependents. The need is obvious in the case of couples with young children, but it is no less important for adults who are dependent on one another for support. Other reasons for life insurance include:
- Paying for funeral and burial costs, as well as final medical expenses.
- Providing an inheritance for one’s heirs
- Paying federal estate taxes and state death taxes, if any
- Making a substantial gift to charity
- With some life insurance policies, creating a source of savings to draw on during retirement.
Use this chart to help understand and compare life insurance options.
| Term Life Insurance | Whole Life Insurance | Universal Life Insurance | Variable Life Insurance | |
|---|---|---|---|---|
| Death Benefit |
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| Designed for low cost |
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| Access to your money |
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| Guaranteed Cash Value |
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| Market Participation |
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| Tax Advantages |
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| Flexible Payments |
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| Term Life Insurance |
|---|
| Death Benefit |
| Designed for low cost |
| Tax Advantages |
| Whole Life Insurance |
| Death Benefit |
| Access to your money |
| Guaranteed Cash Value |
| Tax Advantages |
| Universal Life Insurance |
| Death Benefit |
| Access to your money |
| Guaranteed Cash Value |
| Tax Advantages |
| Flexible Payments |
| Variable Life Insurance |
| Death Benefit |
| Access to your money |
| Market Participation |
| Tax Advantages |
| Flexible Payments |
Someone who has no dependents and has enough funds to cover final expenses may not need any life insurance. However, that is not the usual case. Determining the proper amount of coverage is no simple matter. Let Eagle Financial Group thoroughly discuss all of your options and find you the best affordable life insurance quote that will protect your family. Contact one of our Life Insurance Representatives at (800) 205-7203 today or “Request a Quote” below!