Our agents at the Taake Insurance Agency serving the Columbia, IL area know how important your family and friends are to you. This is why they want to ensure that you have adequate life insurance in place when you pass away.
You do not know when it will be time for you to leave this world, and a good life insurance policy will give you the peace of mind you deserve since you will know that your loved ones will be taken care of when that day comes.
There are several different types of life insurance policies you can choose from. Listed below are the three most common types of life insurance policies.
Life Insurance Options
Term Life Insurance
This type of life insurance policy will provide coverage during a certain term. The terms are usually 10, 20, or 30 years. It is a very affordable policy but only pays a death benefit to your beneficiaries if you pass away during the term in which it is in effect.
Whole Life Insurance
This type of life insurance is part of a permanent policy that provides lifelong coverage. It is a popular choice since it also includes a cash value component that grows over time and can be borrowed against or withdrawn. This means you can pay off large bills, such as a mortgage or vehicle before you pass away, which will help lessen the load of stress on your loved ones when they are grieving since they will not have to worry about how to pay the bills.
Universal Life Insurance
Universal life insurance basically combines a death benefit with an investment account. This means that you can adjust the premium payments and death benefit over time, and the cash value has the potential to grow while being tax-deferred.
Other Types of Life Insurance Policies
Other types of life insurance policies you can choose from include variable life insurance, indexed universal life insurance, final expense insurance, and group life insurance.
Get Your Life Insurance Policy Started
Call our agents at the Taake Insurance Agency serving the Columbia, IL area today to get your life insurance policy started!