It’s normal to avoid thinking about the possibilities of your own death. This is probably the biggest reason why so many people who pass away unexpectedly, leave their families with heavy financial burdens that could have easily been avoided.

The last thing any of us would want to do is to add to the difficulties our families will face if something unfortunate were to happen. Please continue reading to find out how you can avoid this often over-looked pitfall that many others have fallen in to by learning how, and why, you should obtain life insurance.

Preparing for your family’s future

Protecting your spouse and family members is the main reason to carry quality life insurance. However, depending on the type of insurance policy you choose, their benefits can also include much more:

• Tax free death benefits for heirs
• Lifetime coverage for a guaranteed price
• Insurance protection with a range of investment choices
• The ability to access your cash value through tax-free loans and withdrawals*

The basics of life insurance are simple: You choose how much coverage you want. You purchase that coverage from an insurance company. The company then pays the death benefit to your beneficiaries in the event of your death. After that, the details of which policy to choose can get more complicated, depending on your protection needs and overall financial planning goals.

Life Insurance Choices

Jackson offers three different types of life insurance: term, universal life and variable universal life. There are variations available within each. You can make the right choice for you by understanding what is different about the types of life insurance:

• Term Life Insurance
  With term life insurance, you purchase coverage for a set amount of time, such as 10, 15, or 20 years, at a set premium or cost. When the time is up, you are able to renew at a higher premium.

  Key advantage: Usually the least expensive choice if you need coverage for a specified time period.

  Key drawback: Term life insurance does not build cash value. Premiums will increase after your initial term period expires. Also, it can be a more expensive choice if you should need long-term coverage.

• Universal Life Insurance
  With Universal Life Insurance, you can purchase coverage for a selected period, or lifetime coverage, with a flexible premium. You also have the ability to access your cash value during your lifetime.

  Key advantage: Flexible premium product that can provide lifetime coverage for income replacement, estate planning and business succession.

  Key drawback: Higher initial premium than term life insurance.

• Variable Universal Life Insurance
  With Variable Universal Life Insurance, you can combine lifetime coverage with investment choices and the ability to access your cash value.

  Key advantage: A flexible and sophisticated protection tool with the potential for significant asset accumulation.

  Key drawback: Performance can be impacted by market fluctuations.
  NOTE: I do not handle this last type of coverage. This is included for educational purposes only

Visit our life insurance quote form page to get a fast and hassle free insurance quote