The death of a loved one is one of the most difficult events a family can endure. Financial stress is an unwelcome burden while a family is already dealing with a loss. With smart planning and a reasonable investment, you can help your family avoid unnecessary financial strife after your death. A life insurance plan is an official plan to help your dependents with expenses following your death and even years into the future. At Bryant & Associates, our agents can help you find a life insurance plan that works within your budget and addresses your needs. We serve clients in Vancouver, Longview, White Salmon, Portland and The Dalles, and are familiar with the companies and plans available to our residents. Contact our team for a free quote and to discuss your future today.
A Plan That Meets Your Needs
A life insurance policy is an important aspect of any responsible financial plan. If you have anyone who depends on you currently or who will depend on you in the future, a life insurance policy can help protect them. There are two main types of life insurance: term life and permanent life.
Term Life Insurance
Term life insurance works as its name implies: within a certain term. This type of life insurance promises a certain, fixed amount of life insurance, but it has an expiration date. If the insured party in a term life policy does not die within the predetermined policy term, the policy will not pay out.
This type of temporary insurance may not seem ideal; however, it has many benefits. First, it is very inexpensive when compared with permanent life insurance. Second, it guarantees that the claim, or death benefit, paid by the insurance company will not depreciate as long as the policy is in effect.
This type of policy is a great option to consider for a number of types of people. Many of our term life policy clients at Bryant & Associates choose this type of policy because they would like to protect their families in the event of an unexpected death. Many clients choose this type of policy to pay for temporary costs their families would face after an unexpected death. These could include a mortgage, auto loan, planned educational expenses for a family member, and more.
Permanent Life Insurance
Unlike term life insurance, permanent life insurance promises to pay out a death benefit no matter when the insured policyholder dies. This type of policy can appreciate in value by earning dividends over time if properly invested. Whereas a term life policy might be compared to renting a house, a permanent life insurance policy is more similar to buying a home over time. It is typically costlier but serves as a longer term investment that will not expire.
Permanent life insurance can help provide long-term support to your dependents. It is designed to help pay for your final expenses and any debts, but may also help support your family for a very long time. While this type of insurance is much costlier than term life insurance, many clients offset their premiums using dividends. Because life insurance is invested by the insurance company, clients are eligible to earn such dividends.
The Right Premium and the Right Policy for You
If you are a member of the Vancouver, Longview, White Salmon, Portland or The Dalles communities, and other areas Bryant & Associates are here for your life insurance needs. Let us present several life insurance policy options to you so that you can make an informed decision. Contact our team today for a free quote and evaluation of your retirement plan today.