Life insurance is one of if not the most cost effective ways to protect your family’s financial future. Regardless of whether you live in Schererville, or another part of Indiana, Hoosier Insurance Group can help you find the best life insurance policy possible for your unique situation.
Everyone’s needs are different, and it’s important to understand that there are many different life insurance products available in the market today, so finding the right one at the best price can be quite confusing and time consuming unless you are working with an independent insurance agency like us.
We have access to a wide range of life insurance companies in Indiana. This means we can compare coverage and cost on your behalf, at no additional cost to you. This obviously saves you a great deal of time and aggravation.
Term Life Insurance vs. Whole Life Insurance
The most common types of life insurance are Term Life and Whole Life. Term Life, which covers your beneficiaries for a certain period of time, or “term” is generally the least expensive, but with some drawbacks.
With Term insurance, you are essentially “renting” coverage from the insurance company for that period of time. If you should die during that term, your beneficiaries will receive the full face amount of your policy, tax-free.
With Whole Life insurance, you are the “owner” of the insurance contract and have a bit more flexibility as to what you can use the policy for. For example, with Whole Life, you can take loans against the cash value, and even sell a whole life policy.
Because life insurance rates are dependent upon your health history and current health status, the best time to purchase life insurance is at a young age, and/or when you have people or children who depend on you financially to maintain their quality of living.
Don’t wait until it’s too late. Our agency can help you with all of your life insurance needs.