Selecting the Right Life Insurance for Your Family

When you want peace of mind for your family, life insurance is a smart investment. Not only does it cover burial expenses, it also provides financial security for your family, allowing them to pay off the family home, fund college educations for your children, and secure retirement for a spouse. In Virginia life insurance is available in three types.

Term Life Insurance

Term life insurance offers straight-forward insurance coverage for a specified period of time. One of the major advantages of a term life policy is its affordability. Like all Virginia life insurance, it provides a guaranteed death benefit for your beneficiaries.

Whole Life Insurance

Unlike limited term insurance, whole life policies offer permanent coverage. Although whole life insurance premiums are generally more expensive than term life, the policies build cash value, making them an investment as well as an insurance policy. Most also include borrowing options, which give policy owners the ability to tap into the policy during emergencies or hard times.

Universal Life Insurance

A universal life insurance policy gives owners the ultimate flexibility in insurance. Universal life insurance offers the flexibility to either build the policy’s cash value or to concentrate on guaranteed protection.

Whatever your family’s needs, there is a Virginia life insurance policy available. Consider both your budget and preferences. Whether you want the flexibility of universal life insurance, prefer the affordable coverage that term life provides, or want to build cash-value with a whole life policy, purchasing life insurance is one of the best investments for your family’s future.

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