Here at Baldo-Downs Insurance LLC, we want to help you and your family get the whole life assurance you need to feel secure. We help those in Tuscaloosa, AL and across the state learn about their insurance options and make decisions accordingly.
What is Whole Life Insurance?
Whole life insurance is exactly what it sounds like. These policies are also known as permanent life insurance; thus, they offer coverage throughout a person’s life. Their coverage remains unless they lapse in making payments. Most people are more familiar with term life insurance, which offers some similar benefits but only does so for a set amount of time. Whole life insurance has no term limit, so you never have to worry about getting a new policy. Whole life insurance functions by correlating premiums with a determined level of death benefits that would go to your beneficiaries. It’s a great way to make sure living family members are taken care of if the worst-case scenario happens.
Why Do People Choose Whole Life Insurance?
There are many reasons that people may choose whole life insurance over fixed-term policies. While not everyone will determine that this type of insurance plan will benefit them, many think that whole life insurance is worth the investment.
Some advantages include:
- Premiums that don’t change based on market conditions.
- The ability to use funds to take out a loan.
- A guaranteed death benefit for those who make payments.
Some plans may be a little different, but most have similar structures, so people who sign up for these plans are very clear on what to expect from their plans, which adds another level of security.
Begin Your Whole Life Insurance Journey
For those in Tuscaloosa, AL, looking for life insurance, Baldo-Downs Insurance LLC will help you get started on the process. Give us a call today!