[et_pb_section admin_label=”Section” fullwidth=”on” specialty=”off”][et_pb_fullwidth_header admin_label=”Fullwidth Header” title=”Finding the right Insurance for you” background_layout=”light” text_orientation=”left” header_fullscreen=”off” header_scroll_down=”off” parallax=”off” parallax_method=”off” content_orientation=”center” image_orientation=”center” custom_button_one=”off” button_one_letter_spacing=”0″ button_one_use_icon=”default” button_one_icon_placement=”right” button_one_on_hover=”on” button_one_letter_spacing_hover=”0″ custom_button_two=”off” button_two_letter_spacing=”0″ button_two_use_icon=”default” button_two_icon_placement=”right” button_two_on_hover=”on” button_two_letter_spacing_hover=”0″ subhead=”September 2017″] [\/et_pb_fullwidth_header][\/et_pb_section][et_pb_section admin_label=”section”][et_pb_row admin_label=”row”][et_pb_column type=”4_4″][et_pb_text admin_label=”Text” background_layout=”light” text_orientation=”left” use_border_color=”off” border_color=”#ffffff” border_style=”solid” saved_tabs=”all”]<\/p>\n
By Kris Sollenberger<\/p>\n
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\u201cTake a look at three types of [spacer height=”05px”]<\/p>\n Expert planners have said\u2026.. if you\u2019re alive, you need life insurance. \u00a0Most of us probably agree on this. \u00a0Well then, what\u2019s stopping us from just grabbing up any old insurance and going about our day. \u00a0Well, life insurance is pretty darn complicated. \u00a0There are so many different types, how in the heck are you to know which one is best for you. \u00a0Let\u2019s go over a few, and hopefully, you\u2019ll have your answer when you\u2019re finished. \u00a0OK.<\/p>\n [spacer height=”03px”]<\/p>\n TERM life\u00a0<\/strong>insurance is the most popular of them all. \u00a0Why? \u00a0Well, that\u2019s easy, it\u2019s the cheapest. \u00a0This type of life insurance is like renting insurance. \u00a0You pick the amount of years you want to be covered, if you die during that period, your family is paid. \u00a0If you don\u2019t die, well then the insurance company gets to keep all your premiums (money). [spacer height=”03px”]<\/p>\n The most common term insurance is\u00a0level\u00a0premium. \u00a0This is where you pay the same amount throughout the life of your policy. \u00a0Term insurance has an\u00a0annual renewable\u00a0or\u00a0flexible duration\u00a0option as well. \u00a0The annual renewable is where you renew every year, each year the premiums get more expensive. \u00a0The flexible duration is just where you can specify the exact term you need between 1-35 years. \u00a0There is also \u201creturn of premium\u201d term coverage. \u00a0This is the only term coverage that gets any of your money back, and of course, it\u2019s more expensive.<\/p>\n [spacer height=”03px”]<\/p>\n UNIVERSAL life\u00a0<\/strong>is certainly more complicated. \u00a0There are more variants to Universal Life. \u00a0The meat of this insurance is that you have the option of flexible premiums that can be adjusted based on life events. \u00a0This insurance is permanent, and will not expire unless you want it to. \u00a0This type of coverage is more expensive than a term for the simple reason it creates a cash value. \u00a0You don\u2019t just rent this coverage, you own it. \u00a0You can also play the market with universal life policies. [spacer height=”03px”]<\/p>\n WHOLE life<\/strong>\u00a0is the granddaddy of them all. \u00a0With whole life, you own this policy until one of four things happen: You die, you have your 120th birthday, you stop paying your premiums, or you cancel your policy entirely. \u00a0Whole life insurance is guaranteed insurance as long as you keep paying your premiums. \u00a0Now, this is the more expensive type of coverage, but it builds a cash value like universal. \u00a0Like universal, there are many options for this type of coverage as well. \u00a0You can even get a type of coverage called\u00a0Guaranteed Issue, in which you are guaranteed a policy even without any underwriting or medical history. \u00a0This is obviously more expensive than if you let them search your background and check your health, but heck, it\u2019s an option. \u00a0There truly is a policy for everyone. \u00a0Other whole life policies include\u00a0graded,\u00a0participating,\u00a0level\u00a0(most common), and\u00a010 pay\/20 pay\u00a0options. [spacer height=”03px”]<\/p>\n <\/p>\n We can help!<\/strong><\/p>\n [\/et_pb_text][et_pb_image admin_label=”Image” src=”https:\/\/americanretirementadvisors.com\/wp-content\/uploads\/2017\/08\/Life-insurance-1.png” show_in_lightbox=”off” url_new_window=”off” use_overlay=”off” animation=”left” sticky=”off” align=”left” max_width=”250px” force_fullwidth=”off” always_center_on_mobile=”on” use_border_color=”off” border_color=”#ffffff” border_style=”solid”] [\/et_pb_image][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" By Kris Sollenberger [spacer height=”07px”] \u201cTake a look at three types of life insurance. \u00a0There has to be an option that may work for you. \u00a0Talk with your loved ones. Get your family covered.\u201d [spacer height=”05px”] Expert planners have said\u2026.. if you\u2019re alive, you need life insurance. \u00a0Most of us probably agree on this. \u00a0Well […]<\/p>\n","protected":false},"author":1,"featured_media":7401,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7400","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"\n
\nlife insurance. \u00a0There has to be an option that may work for you. \u00a0Talk with your loved ones. Get your family covered.\u201d<\/em><\/strong><\/p>\n
\nAgain, it\u2019s the cheapest for a reason, folks; the good news is you\u2019re still alive.<\/p>\n
\nGenerally, this is a good insurance to get if you want to avoid inflation risk, earn extra money by playing the market, or want flexible options for premiums. \u00a0You can even borrow from your universal life insurance if you have enough cash value built up. \u00a0This type of coverage has many options:\u00a0indexed,\u00a0universal,\u00a0survivorship, guaranteed,\u00a0variable, and\u00a0guaranteed variable. One of them may work for you, and we can find that together.<\/p>\n
\nThese are all a bit more complicated.<\/p>\n