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Types of Life Insurance

You spend your whole entire life providing and taking care of your family, right? So, wouldn’t you want to know that your family is taken care of when you are no longer around to do it? The best way to ensure that happens is to invest in a life insurance policy. There are a variety of life insurance policies available that will ease all of your concerns about benefits after death.

Term Life Insurance

With term life insurance you and your family will be covered for a certain amount of years (terms.) Terms are usually offered in 5 year, 10 year, 20 year and 30 years options. A life insurance agent can help you decide which length of time is right for you and your family. Most people choose a plan that will cover a mortgage or any other major debts.

Term life insurance is usually the most-popular insurance chosen among people living in Maryland. It is also the least expensive option.

Whole Life Insurance

Whole life insurance provides coverage for your entire life. It is combined with an investment fund. You’d be investing in a policy that pays a fixed amount on your life, and then part of your premium goes towards building cash value. Most people consider whole life insurance policies to cover burial costs.

Universal Life Insurance

Universal life insurance is another type of life insurance that combines term with a money market type investment that pays a market rate of return. It is also possible to borrow against the value of your universal life insurance policy.

Customized Life Insurance Policies

You can combine both term and whole life insurance policies to customize a policy that is right for you and our family. Options are endless when you have the ability to customize your plan.

Most Americans should consider investing in a life insurance policy. If you are on the fence about it, you should think through to the worst-case scenario. If you died tomorrow, how would your loved ones fare financially? Then decide which insurance policy would be best for you and your family.
Bayside Insurance has trained professional agents that would be happy to go over all of this information for you and help you design a plan that is best for your needs. If you are ready to take the next step request a life insurance quote now.

To contact an insurance agent call either one of our Eastern Shore locations:
Easton: (410) 822-2800
Chester: (410) 643-6641

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