To make sure that a person’s family is provided for after they pass away, many people choose to purchase a life insurance policy. However, some people are concerned that life insurance policies can be difficult to get and that someone has to meet certain health limits. In other cases, people are concerned that life insurance will be overly expensive. While there are situations where life insurance policies are contingent upon a person’s health and there are policies that are quite expensive, there are other more affordable life insurance products on the market.
Permanent Life Insurance
For people that want to have a potential cash generating annuity or for people that want a permanent death benefit from life insurance in Wichita KS, a whole life insurance policy is going to be the best option. These sorts of insurance policies are typically only provided to people who are in good health and the premiums for these sorts of policies will be a bit high. With the fact that this can be an annuity and because this sort of policy offers a permanent death benefit as long as the premiums are paid, these are reasons why this type of policy is a bit harder to get. This is also why this policy is more expensive.
More Affordable Life Insurance Options
A less expensive option is term life insurance. These policies pay out significant death benefits, but it is only good for a limited amount of time. Term life insurance policies can last anywhere from five to twenty years. In addition, these policies are great for people who may have pre-existing health problems or those who are out of shape. Premiums are also fairly affordable, which means that a person can have a hefty life insurance policy for as little as $20 per month.
Simply put, life insurance in Wichita KS is important. If you want to make sure that your family is financially provided for immediately after your death, this is the best way to do that. Whether you have a great deal of money to spend or you’re shopping for life insurance on a budget, you might want to speak with Andy Woodward Insurance to learn more about your insurance options.