Life Insurance

In a time of adjustments, even a pandemic, some things have not changed. We still need to care for our loved ones, cook dinner, fold laundry, make money, and now that it is fall, rake the lawn. It gets to be pretty routine.

But what if you were not around? That is a tough question to consider. Life insurance can play an key role in protecting your family.

Here are some questions to ask when considering Life insurance:

❑ Do I need life insurance?
❑ What are the different types of life insurance?
❑ What is the average life insurance cost?
❑ How much life insurance do I need?
❑ What is the process for getting life insurance?

Applying for it doesn’t have to be hard or boring. Jake Savio can help answer your
questions and work with you to tailor a plan. After all, it’s really not for you, it’s for
them. Call Jake at 802-310-2914, our office 802-651-6928 or email jake@ccf-vt.com

Types of life insurance generally fall into two categories: term life insurance and permanent life insurance.

Term life insurance

Term life insurance provides protection for a specific period of time (the term). This is often 10, 20 or 30 years. Term life insurance makes sense when you need protection for a specific amount of time--for instance, until your kids graduate from college or your mortgage is paid off.

Term life insurance typically offers the most amount of coverage for the lowest initial premium. This makes this type of life insurance policy a good choice for those on a tighter budget.

Permanent life insurance

Permanent life insurance provides lifelong protection for as long as you pay the premiums. It also accumulates cash value on a tax-deferred basis, which you can tap into to buy a home, supplement your retirement income, cover an emergency expense and more.

Because of these additional benefits, initial premiums are higher than what you’d pay for a term life insurance policy with the same amount of coverage.

You Might Want a Mix

Depending on your circumstances and financial goals, sometimes a combination of term and permanent insurance is the answer.