Life Insurance Policies

Adams Insurance Services, LLC works with multiple carriers to provide many different options and types of life insurance policies for our clients. Some people want basic coverage for the cheapest price. Some struggle to find a life insurance plan that will provide enough coverage at an affordable price based on their health or age. No matter what your situation or goals are, we can help by providing term life insurance or whole life insurance. We also specialize in providing life insurance for seniors in addition to our Medicare offerings.

Term and Whole Life Insurance Plans

To help decide which policy is best, let’s talk about the difference between term and whole life insurance.

• What is whole life insurance? A whole life insurance policy is essentially permanent life insurance. Those insured receive a guaranteed premium, cash value for their policy, and the benefit will be paid on the death of the insured. There is also potential to receive dividends with a whole life policy for an increased death benefit.
• What is term life insurance? A term life insurance policy is the least expensive life insurance policy that provides coverage for a certain period of time. This can range from one year to 30 years. If the insured dies during the period of term life insurance, the beneficiaries will receive the death benefit. However if you pass after the coverage has ended, there is no death benefit. Term life insurance is difficult to get if you are older than 80.

When comparing term or whole life insurance, the decision depends on many factors including your age, health, and retirement planning. Whole life insurance is a permanent solution, perfect for younger people or people who want to supplement their retirement planning. Term life insurance provides a short-term solution to protect your beneficiaries for a short period of time, but can be difficult to obtain depending on health factors. If you are unsure if it is better to go with whole or term life insurance, contact Jeffrey Adams today for his advice.