Whether you prefer to live life one day at a time or like living in the fast lane, life insurance is one of the essential policies that will allow you to protect your beneficiaries from financial turmoil when you pass away. Clients Choice Insurance understands that various policy seekers within Colorado will require different coverage, and that is why we detail common policies to consider looking into.
Term Life Insurance
Term life insurance is designed to offer protection to individuals within a given time frame. Upon death, beneficiaries receive a payout, allowing them to have a secure source of financial coverage for their everyday needs. Payout is, however, possible only when you do not outlive the stipulated duration for your policy. Based on your coverage terms, you can convert term life insurance to permanent life insurance for use during your retirement years or with your beneficiaries.
Whole Life Insurance
Whole life insurance covers you for your complete life, making this policy a permanent one. Once you pay the premiums, whole life insurance makes cash value as time goes by. With this, beneficiaries get a death benefit once they pass away. In addition to this, whole life policies can also act as a retirement plan.
Universal Life Insurance
Universal life insurance also acts as another type of permanent life policy covering policy seekers over their entire life. Universal life insurance also comes with a cash value component that accumulates over time. However, premiums for this policy are flexible, allowing individuals to vary their payments based on various life events, such as when they get a job or have a mortgage to take care of. It also comes with death benefits, ensuring that beneficiaries get an appropriate financial safeguard upon your death.
If you are looking for life insurance within Colorado to give you and your family peace of mind, make it a point to reach out to Clients Choice Insurance today. Our policies are customized to suit various life journeys.