Life insurance is a contract between you and an insurance company. Essentially, in exchange for your premium payments, the insurance company will pay a lump sum known as a death benefit to your beneficiaries after your death. Your beneficiaries can use the money for whatever purpose they choose. 

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There are 2 main types of life insurance:

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• Term Life Insurance - Term insurance is a type of life insurance policy that provides coverage for a certain period of time or a specified "term" of years. If the insured dies during the time period specified in a term policy and the policy is active, a death benefit will be paid

• Permanent Life Insurance -  Permanent life insurance is an umbrella term for life insurance policies that do not expire. The two primary types of permanent life insurance are whole life and universal life, and most permanent life insurance combines a death benefit with a savings portion. Permanent Life Insurance never expires, as long as premiums are paid. Most of these policies combine a death benefit with a savings component that can be withdrawn tax free. 

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So how much life insurance do you need? That is all relative to your specific situation or desires. If you have a specific amount in mind, we can go with that. If you would like to determine a more comprehensive amount, we have a life insurance needs calculator that can help direct you. Please click the button below.

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