The Family Safety Net: Life Insurance

Part 1: A Review of the Fundamentals of Life Insurance

Take proactive steps for your loved ones and invest in protective life insurance. Here are just a few benefits & ways the best life insurance can be a safety net and give you peace of mind:

• Lump sum payment to beneficiaries, covering immediate expenses and maintaining the family's standard of living during challenging times.

• Benefits can cover education expenses, mortgage payments, and other significant obligations.

• Life insurance has added advantages like tax benefits and estate planning, life insurance becomes essential for safeguarding family well-being.

3 Types of Life Insurance

Understand the 3 Types of Life Insurance to suit your financial plans and needs. What is term life insurance and how is it different from a whole life insurance policy?

• Term Life - provides coverage for a specific period, like 20 years, and is generally more affordable than other types.

• Whole Life - insurance is lifelong coverage with a guaranteed death benefit and the potential for cash value accumulation.

• Universal Life - insurance combines aspects of term and whole life, providing flexibility in premium payments and death benefits while accumulating cash value.

Understand the factors that may impact which type of life insurance is good for you or even senior life insurance if you're shopping for policies later in life. Some of the factors include:

• Age

• Financial situation, and

• Future goals

Peterson Insurance Group can help you make an informed decision that aligns with your individual needs. Contact us today to get a life insurance quote.

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Peterson Insurance Group is a family-owned and operated independent insurance agency representing multiple companies located in Weaverville, NC. Founded in 2001, the company is owned by Eirene Peterson-Burnette, the successor to the founder, Stom Peterson. Together, with her team, Peterson Insurance provides exceptional, personal service guiding customers through the maze of insurance options. Visit us at 1 South Main Street Extension, Weaverville, NC 28787 or call 828-645-8777.