Life Insurance – Choosing the Right Type
by J.R. Hager, LUTCF, Financial Services Manager

With the new year beginning, many take this opportunity to re-examine their financial situations. The foundation of many financial plans is life insurance. The first and one of the most important questions when reviewing life insurance is what type should I have, Term or Permanent? Here are a few points to consider when making a decision:

You Should Consider Term Life If You…

• Need short-term protection (15 years or less)
• Want to keep your initial premium low
• Are interested only in death benefits

You Should Consider Permanent Life If You…

• Need long-term protection
• Want to keep premiums level as you get older
• Want to build cash values for future use
• Want to use it as collateral
• Want to protect against future health issues

Still not sure which type of insurance is right for you? Need help determining how much insurance coverage you need? Give us a call at 267-384-5300 and one of our insurance specialists will help you through the decision process.

FIFS Connection, Winter 2007, Vol.4, No.1