Dont' leave the future of your loved ones to chance.
Having the right life insurance is pivotal in planning for the future of you and your loved ones. This type of insurance can help you fulfill promises you’ve made to your family when you are gone
We can find discounts on insurance you may not find on your own.
Life Changes. So Should Your Policy
For our neighbors in Illinois, the right life insurance will be unique and dependent on personal and financial needs. As life changes, your insurance coverage may need to change in order to adapt to your current needs. Some life transformations that may require a policy “tune-up” include:
- Recently married or divorced
- You have a new child or grandchild
- Opened or expanded a business
- When your health or your spouse’s health has deteriorated
- Providing care or financial assistance to a parent
- Your child or grandchild requires assistance or long-term care
- Newly purchased a home
- Planning for a child or grandchild’s education
- You’re concerned about retirement income
- A possible refinanced your home mortgage in the past six months
- If you or your spouse recently received an inheritance
- Having or inheriting a sizable estate
Best Insurance can help you select the best insurance coverage for your needs. There are several different types of life insurance products available – the most common include:
What You Need to Know
Term Life Insurance
Term insurance provides protection for a specified period of time. If you do not currently have life insurance, term can be a good place to start. It’s generally less expensive than permanent (whole) life insurance, and is available in varying time periods with fixed premiums from a one year (annual renewable term) to 20-year (level term) period.
Furthermore, term insurance is sometimes convertible to permanent coverage, providing you with flexibility as your needs change.
Whole Life Insurance
Whole life is a form of permanent life insurance that remains in force for your entire lifetime, provided premiums are paid as specified in the policy. Whole life insurance can be an investment opportunity, as many whole life insurance policies also build cash value over time.
Universal Life Insurance
Universal life is a form of permanent insurance characterized by its flexible premiums, face amounts and unbundled pricing structure. Universal coverage can build cash value, which earns an interest rate that may adjust periodically, but is usually guaranteed not to fall below a certain percentage.
What type of coverage is best for you? Talk with the team at Best Insurance. We can assist in identifying the best protection for you.
Advantages of Life Insurance
Having the right life insurance is essential to planning for your present and your future. Not only can life insurance provide assurance for your family after you are gone, many options offer other benefits and investment opportunities you can take advantage of while you are living.
Life Insurance Death Benefit
When you pass away, your life insurance provides income (tax-free) to your named beneficiary or beneficiaries . It can be used to pay funeral expenses, debt, tuition, estate taxes, or virtually any financial need. Your policy can also help provide security for your business by enabling partners to buy out the interests of a deceased partner and prevent a forced liquidation.
Life Insurance Living Benefits
The cash value growth of a permanent (whole) life insurance policy is tax-deferred, meaning you do not pay taxes on the growth of cash value, unless money is withdrawn. Loans or withdrawals can be taken against the cash value of a permanent life insurance policy to help with expenses, such as college tuition or the down payment on a home.
The right life insurance coverage for each and every one of our customers in Illinois is unique. Contact the Best Insurance team today to find out how to protect your family and your future with the right life insurance.
We write insurance in Illinois and Wisconsin and would be happy to help you ensure you have the right car insurance coverage.