The Legacy Insurance Group was founded on the cornerstone of protecting your legacy and insuring for your future. Life insurance can help to secure your family’s financial future by providing the funds needed to cover burial expenses, uninsured medical bills, pay off your mortgage and other outstanding debts, and to help maintain a comfortable standard of living for loved ones.
There are a variety of life insurance options available including:
Term Life Insurance
Term life insurance is a low-cost way of maximizing coverage. Protection is provided for a limited time period, often 5-20 years. There is no value to the policy after the term expires, but in many cases the coverage can be extended in one-year renewable term increments.
Premiums for term life insurance do not increase during the guaranteed policy period (term) you select. Term life insurance only pays a death benefits if you die during that term.
Universal Life Insurance
Universal life insurance is a highly flexible policy. Policyholders can determine both the amount and frequency of premium payments. Universal life policies provide both an insurance portion and a savings element. Due to their flexible nature, premium payments can be increased, decreased, and even skipped if you have properly funded the policy.
Whole Life Insurance
Whole life insurance provides permanent protection. The policy provides coverage for as long as the premium payments are made. Premiums are set when the policy is issued and remain level for the life of the policy. Similar to universal life insurance, whole life insurance combines insurance protection and a savings element. “Cash value” builds over time and can be borrowed against or paid out in the event the policyholder cancels the policy.