August 3, 2017
Agency
Term vs. Permanent Life Insurance – Is it just like renting or buying a home?
The lack of life insurance can affect families for generations to come. Whether its term or permanent, some kind of coverage is important to have and either one can be fit to meet most budgets. Most people understand the process of either renting or buying a home and life insurance is very similar. Here are some benefits of both Term and Permanent.
TERM
- Similar to Renting a home
- Can choose the length term and amount of coverage of the policy. (10, 20, and 30 years)
- Payments stay the same throughout the life of the policy
- Have the option to renew at term end but at higher payments
- Can offer Mortgage Protection
PERMANENT
- Similar to Buying a home in that you’re building equity
- Life long protection
- Ability to build cash value
- Flexibility to adjust your policy as needed
- Take Loans to buy a car or real estate
- Take TAX-FREE income at Retirement
Regardless of which route you choose, you’re family will be protected with a financial blanket to continue to navigate their lives with as little disruption as possible. We have you covered when it comes to any life insurance plan at The Ascension Group. Call us at (214)277-9497 for a plan to protect you and your family today!