There was a time when life insurance was purchased primarily as a financial benefit for surviving dependents. Today, however, many people purchase life insurance as a financial asset – one that can provide both living and death benefits. At River City Insurance Agency, we know how important it is to choose a policy that meets your needs and protects your long-term goals. Whether you are looking for ways to protect your growing family or hoping to create greater financial security in retirement, we can help you choose a policy that’s right for you.
Is Life Insurance Right for You?
We offer a wide range of life insurance solutions for people from all stages of life. Coverage is designed to assist with the financial needs of many different people. In fact, most adults can benefit from a life insurance policy, including:
- Single individuals
- Married spouses
- Couples with children
- Single parents
- Retired couples
- Stay-at-home parents
- Small business owners
- And more
The money used from life insurance is often used to cover final expenses, such as burial and funeral costs. However, a personalized insurance policy tailored to your needs could offer far greater benefits. If you have significant debts, for example, wouldn’t it feel great knowing you would not pass those on to loved ones? What about the ability to finance a child’s college tuition or secure a surviving spouse’s retirement? Funds may also be used to replace your lost future income, leave a charitable legacy, or cover a buy-sell agreement between a business partner and surviving family members.
When Should You Purchase Life Insurance Coverage?
If you know you need life insurance, there is no better time than now to purchase your policy. Life can change in the blink of an eye, affecting your ability to secure a policy and your loved ones’ financial security. Furthermore, since premiums are generally lower for young, healthy individuals, it may be easier to qualify for a low rate you can afford for decades to come.
Even if you have an insurance policy via an employer, it is still a good idea to purchase your own private coverage through an independent agent. With a private policy, you can lock in coverage that is not contingent upon your job tenure. Employer coverage, on the other hand, may be conditional to your continued employment and it may not offer enough coverage to meet your needs.
Types of Life Insurance Coverage
At River City Insurance Agency, we offer a wide range of life insurance coverage options, each of which offers different solutions and advantages. You can choose between term, whole-life, and universal life coverage and work with an independent agent to determine which type of life insurance is right for you.
Term Life Insurance
A term life insurance policy is a popular choice for individuals looking for high-limit death benefits at low affordable rates. This is not lifetime coverage, but rather a temporary policy that pays benefits if the insured dies during a specified period of time – often as much as 30 years or more. Although the policy does not accumulate any cash value, it can provide much-needed peace of mind for survivors who are financially dependent upon the insured.
We typically recommend term life insurance for clients who have dependents or business partners. The coverage can be used to provide income replacement, take care of final expenses, pay off the mortgage on a home, fund large expenses, or even pay for professional domestic services after the loss of a stay-at-home parent or spouse.
Whole Life Insurance
Whole life insurance offers a lifetime of peace of mind. This coverage never expires, and the terms do not generally change despite aging or deterioration of health. Instead, you can lock in affordable premiums at an early age and enjoy the security and financial benefits of a policy that can gradually build cash value over the course of several years. Whole life insurance may be right for you if you want level premiums, permanency, and the potential for living benefits, too.
Universal Life Insurance
Universal life insurance is similar to whole-life insurance with the added flexibility of adjustable premiums. This type of policy is permanent so long as policy premiums are paid up. A portion of the paid premium is typically investable, meaning the value of the policy can increase and even pay for itself in the future should the insured experience difficulty covering the cost. We generally recommend universal life insurance to clients who want permanent protection and the possibility for financial growth – all with greater control and versatility.
Affordable Wisconsin Life Insurance
At River City Insurance Agency, we help clients in the Castle Rock and Petenwell Lake areas find affordable life insurance personalized to their unique needs. Whether your current life insurance policy does not hold up to recent life changes or you are just beginning to explore life insurance for the first time, we are happy to assist you in finding affordable, quality coverage solutions that meet your financial goals and budget.
Don’t wait to protect the people you love against the unknown. With a simple call, you can begin the path to greater financial security and long-term peace of mind. Contact our office today to find out more about Wisconsin life insurance and how an independent insurance agency can help you save. We look forward to serving you soon.