Protect the ones you love. Consider life insurance.
Life insurance is one of the most valuable types of insurance one can have. Life insurance may be used to ensure your family’s livelihood doesn’t change to eating ramen noodles every night because they don’t have your income anymore. Life insurance may be used to cover any debt you may have, protecting your love ones from inheriting debt collection notices. Life insurance may be used to get your kids through college. Life insurance may be used in business–like buy-sell agreements and key man policies. Life insurance may be used as a charitable gift to your favorite church or non-profit. There are limitless uses of life insurance. Kraft Insurance Services can help you determine what type of life insurance is best for you.
What do all of those words mean?
Term Life Insurance- Term life insurance usually provides the largest amount of insurance protection at the lowest cost. For the vast majority of people, we recommend to use term life insurance. A term life policy typically has a set term length, which is length of time in which an insurance company agrees to cover you at a set price–as long as you keep paying the premium–and a death benefit, which is the amount the insurance company will pay to your beneficiaries if you pass away. Common term lengths for term life are 10 years, 15 years, 20 years, 25 years, 30 years, and 40 years. Term life contains no cash value.
Whole Life Insurance– Whole life insurance is considered permanent insurance, instead of term insurance. If you pay your premiums on time, your coverage will stay in force, while also accumulating cash value. Whole life generally has the highest premiums.
Universal Life Insurance– Universal life insurance is considered permanent insurance, instead of term insurance. Universal life policies tend to have better earning potential and flexibility than whole life. Universal life primarily focuses on the cash value accumulation, and tends to have higher premiums than term life.
Indexed Universal Life Insurance– Indexed universal life insurance is considered permanent insurance. Indexed universal life, it tends to have better earning potential and flexibility than whole life. Indexed universal life is not directed invested in any securities, but it may credit interest based on the performance of independent financial indexes. These types of plans focus on cash value accumulation.
Obviously, there might be different coverages needed for each person. Life insurance needs are unique to each individual person. However, Kraft Insurance Services can get you an individualized quote on life insurance today.
Better insurance starts here.
Kraft Insurance Services
2701 Bird Ave.
Joplin, MO 64804