Life insurance should be a part of your overall financial plan, but how much do you need and what policy is right for you? We can help.
The primary purpose of life insurance is to provide capital to your dependents after you die. The money is an important financial resource. It can help cover funeral costs, pay the mortgage, provide funds to run the household and ensure that your dependents aren't burdened with debt. Our carriers offer competitive life insurance products that can provide financial security for you and your family. Kramer Insurance can help you every step of the way.
Types of Life Insurance
Temporary needs include home mortgages, short-term debt reduction, family income and educational expenses that can last from as little as one year to 30 years. Term insurance provides affordable coverage for a specified number of years. It is the most cost-effective way to cover costs for loved ones left behind. There are a variety of plans ranging from an annual renewable term ( 1-year plan ) to a level term plan that could last 10, 15, 20 or 30 years.
Permanent needs include those that last for your entire life, or potentially for periods of 15 years or more. Unlike term, permanent life insurance builds a cash value that increases the longer the policy is in force. Permanent needs may include final expenses and funds to cover estate taxes and retirement savings protection. Whole life and universal life plans are ideally suited for meeting these goals. With a permanent life insurance policy from one of our experienced carriers, you'll have guaranteed protection for your entire life.