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Life Insurance Information
Serving Spokane, Boise, Coeur d'Alene, Eastern Washington & Utah
The thought of our passing is not a pleasant one to consider. But in order to protect our loved ones from the financial burden associated with our death, it's important to think proactively about this scenario.
Life insurance can provide multiple benefits for your loved ones, including helping to cover for lost income or tuition costs in the event of your untimely passing. There are multiple policies available to choose from, which can be customized to meet your family's needs. Full Armor Insurance Services, LLC
can help you navigate these options to ensure you get the best coverage for your specific situation. Contact us today
to get started.
Which Types of Life Insurance Are Available?
There are many kinds of life insurance, but they generally fall into two categories: term insurance and permanent insurance.
Term insurance is designed to meet temporary needs. It provides protection for a specific period of time (the "term") and generally pays a benefit only if you die during the term. This type of insurance often makes sense when you have a need for coverage that will disappear at a specific point in time. For instance, you may decide that you only need coverage until your children graduate from college or a particular debt is paid off, such as your mortgage.
In contrast, permanent insurance provides lifelong protection. As long as you pay the premiums, and no loans, withdrawals or surrenders are taken, the full face amount will be paid. Because it is designed to last a lifetime, permanent life insurance accumulates cash value and is priced for you to keep over a long period of time.
It's impossible to say which type of life insurance is better because the kind of coverage that's right for you depends on your unique circumstances and financial goals.
But remember, the best way to figure out the amount and type of life insurance that makes sense for your particular situation is to meet with a qualified and licensed life insurance professional.