When to Purchase Life Insurance
It is never too early to start thinking about life insurance. By purchasing a life insurance policy earlier in your life, it is possible to lock in lower premiums. This means that you will be reducing the financial burden on yourself later in life. There are also other benefits to taking out life insurance, as some policies allow the holder to access and invest the money that accumulates.
We have life insurance clients from many walks of life and ages. We frequently see people in the following situations:
- Joint property owners
- Couples beginning a family
- Parents wanting to organize leaving an inheritance
- People with significant debts
- New grandparents
- Those who wish to ease the financial burden of funeral expenses
- And more
If you are uncertain about how your family would cope financially if you were to suffer an untimely death, it is time to think seriously about life insurance. The Ryan Braden Insurance Agency is here to provide clear information so that you can make an informed choice.
Types of Life Insurance Offered in St. Charles
Whole Life Insurance
– This is the kind of life insurance that the policyholder will have for his or her entire life. It is possible to cancel the contract, of course, but the policy will remain as long as the premiums are paid. The insurer agrees to pay a lump sum to your chosen beneficiary. This is also the type of life insurance that accumulates cash throughout the life of the policy. The policyholder can access or invest this money while the policy is in place.
Term Life Insurance
– This kind of life insurance lasts for a specified term. The term depends on your needs and the flexibility of the insurer. Regarding a payout to a beneficiary or beneficiaries, it works in the same way as whole life insurance. The difference is that the policy will expire at the end of the term (20, 30, 40 years), and you must then renew it or switch to another kind of insurance. Also, there is no accumulation of cash with a fixed term insurance.
Indexed Universal Life Insurance
– This kind of insurance allows you to earn a return on the cash value of your life insurance. The cash value will be at an equity index rate of return, or it will be fixed. The advantage of this type of life insurance is that it gives policyholders flexibility and the opportunity to make money tax-free. On the downside, policyholders will not know how much they will earn, and the amount is likely to be capped.
Life Insurance in St. Charles
At Ryan Braden Insurance Agency, we do not believe in a one-size-fits-all solution. All of our St. Charles clients are different and have varying needs. We think you should have the life insurance policy that fits your circumstances and goals. We are not only flexible, but we also have experience and insurance expertise to make sure that you receive the coverage you need, and that we can offer you good value.
If you are in or around the St. Charles area, please contact us for our high-quality customer service. You will find that we are courteous, reliable, and professional. If you have questions about life insurance or our life insurance company, we will be glad to answer them. We look forward to taking the time to know you properly, so that we can fully understand your needs and fulfill them with our customized insurance solutions.
When applying for any type of life insurance, please remember that it is important to disclose health issues, whether they are past or current so that we can ensure your coverage is airtight. Similarly, you should disclose participation in any high-risk activities.
We look forward to learning more about you and provide you with a quote or the answers to your questions. Our talented team will help you cut through the jargon and match you with the ideal life insurance coverage in St. Charles for maximum benefits and peace of mind.