Life Insurance

A little preparation can make a big difference for your loved ones if you pass away unexpectedly. Life insurance coverage is one way to ensure your family is taken care of after your death. Contact The Bush Agency in Savannah, Georgia, to learn more about our life insurance policies.

What Is Life Insurance?

Life insurance can benefit your loved ones in numerous ways. For example, a standard policy can provide financial support to family members who depend on your annual salary for financial stability. It can help pay for your estate taxes and any outstanding debts. It can even help you create an inheritance to pass your wealth and assets to chosen beneficiaries.

How Does Life Insurance Work?

Life insurance is a binding agreement between you and your insurance company. They agree to provide a death benefit to your chosen beneficiaries if you pass away while your policy is active. The exact duration of your policy and other policy details will vary with your insurer and the type of life insurance coverage you buy.

Types of Life Insurance

There are two primary life insurance coverage options for you to choose from, including the following:

• Term life insurance coverage provides coverage for a set amount of time, such as 20 or 30 years. At the end of your term, your insurer will no longer offer death benefits when you pass away. Term life insurance is typically the less expensive coverage option.
• Permanent life insurance coverage, also known as universal life insurance or whole life insurance, provides coverage for the duration of your life as long as you continue to make premium payments. Although generally more expensive than term life insurance, permanent life insurance coverage may have additional benefits, such as the ability to accrue wealth by withdrawing money or borrowing against your life insurance policy.

Both policies may have a level premium, meaning your insurance costs will stay the same over time, even when you’re older and require more coverage.

Ask your insurance agent which type of life insurance is best for your needs.

Getting Covered

Choosing a life insurance policy to protect your loved ones may seem overwhelming. We’re here to help. Contact The Bush Agency for a life insurance quote tailored to your needs.