Life Insurance

Life insurance is an important way to bring financial security to your loved ones now and in the future. If you can't be there to provide, make sure they have the stability they need. Advanced Benefit Center can help you understand the options and make the right choice for you and your family.

Life insurance is a safety net designed to provide financial security to beneficiaries in the event of the policyholder’s death. By paying a death benefit, life insurance can help cover expenses such as funeral costs, outstanding debts, or lost income, ensuring that loved ones are financially supported. 

With various types of life insurance available, choosing the right policy can be complex. It’s important to partner with a knowledgeable life insurance agent to help you make the right choice for your future. 

Types of Life Insurance Plans

As with all insurance, there are many different types of life insurance plans: 

Term Life Insurance: Provides coverage for a specific period, such as 10, 20, or 30 years. If the policyholder dies during this term, the beneficiaries receive a death benefit.

Universal Life Insurance:  A flexible form of permanent insurance that allows policyholders to adjust premiums and death benefits.

Variable Life Insurance: A type of permanent policy that allows policyholders to invest the cash value in various investment options such as stocks, bonds, or mutual funds.

Whole Life Insurance: A type of permanent insurance that provides lifelong coverage as long as premiums are paid.

When to Enroll in a Life Insurance Plan

Enrollment for life insurance can vary depending on the type of policy and the provider. Here are the common scenarios:

Employer-Provided Life Insurance: Offered as part of a benefits package, with enrollment typically occurring during the employer’s enrollment period.

Guaranteed Issue Policies: Do not require a medical exam and are often available year-round.

Individual Life Insurance: Acceptance and premiums depend on factors like age, health, and lifestyle. Enroll when you’re younger and healthier for the best premiums.

Understanding these options ensures you don’t miss the chance to secure the right coverage for your needs.

What to Consider When Choosing a Life Insurance Plan

When selecting a life insurance policy, consider the following:

• Budget
  
  
• Coverage Needs

• Health & Age

• Investment Preferences & Goals