Investing in life insurance to financially protect family and others close to us is a responsible and caring act. The purpose of life insurance, a form of personal insurance, is to provide financial security to those left behind in the event that the individual insured passes away. When death occurs the named beneficiaries receive a payment from the insurance company so that they do not feel the financial impact of the income lost.
There are many types of life insurance policies available and choosing one depends on a number of factors, including age, relationship status, number of beneficiaries, and more. The three primary types of life insurance policies are term life insurance, whole life insurance, and universal life insurance. Prior to purchasing life insurance it’s important to assess your financial situation and determine the style of living you wish to maintain for your beneficiaries.
For questions regarding life insurance options, contact us at 781-444-3050.