Life insurance is a valuable investment for you and your family. It helps protect them when you are no longer around. However, there are different kinds of life insurance options out there, which is why we at Mid Atlantic Insurance Financial want to make sure you are educated on the potential opportunities available to you, whether you live in Laurel, MD or the surrounding area.
Term Life Insurance
This is a straight forward form of life insurance. It only pays out what is known as "death benefits" as it requires the policy holder to pass on in order to pay. This does make term life insurance more affordable though, so if you’re on a budget or are not interested in the potential of withdrawing your investment early, this is usually the way to go. Term life insurance can also be purchased for set periods of time, such as 10, 20 or 30 years.
Permanent Life Insurance
Permanent life insurance does vary from term life in that you can opt into not only death benefit protection, but there is an associated cash value to the life insurance policy. There is no time limit for when the insurance policy expires or is no longer good. As long as the premium is always paid the life insurance will stay active. There are several smaller categories of permanent life insurance available.
Taking out a life insurance policy is one of the most important investments you’ll ever make. It provides your family with the protection they deserve while ensuring your peace of mind. There are different kinds of life insurance options out there, so if you ever have a question in Laurel, MD, make sure to contact our team at Mid Atlantic Insurance Financial. We are here to help.