Security for your
loved ones

No one likes to think about life insurance, but it’s an important way to provide for your family after your death. But choosing among the different types of policies can be overwhelming.

The life insurance experts at Spring Ridge can take the mystery and anxiety out of selecting an individual life insurance policy that will provide the security you want for your family.

Here’s a brief overview of the three types of individual life insurance:

Term Life Insurance – As its name suggests, with a term life policy you pay regular premiums for a set term. The policy pays only if you die during this period.

Whole Life Insurance – With whole life there’s no set period. You usually pay regular premiums until you die, at which point the policy pays out. Sometimes you have the option to take a lump sum back while you are still alive, but this will reduce the amount paid out when you die.

Universal Life Insurance – Universal life works much like whole life, but offers more flexibility for taking money early. You can even borrow money and repay it later; although, if there’s any loan outstanding when you die, the policy’s payout will be affected.

The premiums you pay for a life insurance policy depend heavily on your age and medical history, along with the amount you want the policy to pay out.

Contact us and we’ll walk you through the options and help you to determine which type of life insurance is best for you and your family.