One of the most important aspects of planning for your family’s financial security is ensuring that, should one of the primary breadwinners of the family suddenly or unexpectedly pass away, the surviving family members will be well taken care of. One of the absolute best ways to secure against such a sudden and devastating loss of income is with life insurance.
Life Insurance helps to cover such costs as funeral expenses, lost wages, medical bills for the deceased, and many other expenses that may arise in relation to a family member passing away.
Life insurance is generally sold in one of two distinct ways:
Term Life Insurance – This kind of policy will cover the insured for a certain term, for example 10 years, and will need to be renewed every time the term expires. Term Life Insurance generally does not have any cash value.
Whole Life Insurance - Whole Life Insurance is different from term life insurance in that as long as the insured continues to pay his or her premium the insurance policy will generally continue to stay in effect. Whole Life Insurance policies generally do not expire, and may accumulate cash value over time.
Every individual and family has differing financial situations and needs. Instead of trying to assess your own life insurance coverage needs, it would be far better to talk to the Memphis, TN Life Insurance Agents at Keltner Insurance Inc. These independent insurance agents are based in Tennessee, but also provide Insurance to residents living in Mississippi, Arkansas, in South Carolina.
Your independent insurance agent will review your financial situation, your cost of living, and your lifestyle, and help you and your family decide who should be covered, the kind of coverage, and the amount of coverage, that will be best for your situation.
Contact Keltner Insurance Inc. today in order to discuss your life Insurance needs and options.