When you're gone, there will be an opportunity to say the things you couldn’t quite get out when you were alive. Tell your loved ones that their security truly mattered to you. Say it with life insurance.
The Ohio Department of Insurance prompts consumers to routinely assess their need to secure life insurance for their loved ones. Life insurance can lighten the stress of financial situations on your family after you're gone by providing a non-taxable death benefit to replace your income. This money can help to pay for:
- Funeral expenses
- Estate taxes
- Car loans
- Other expenses
Some policies have living benefits. The cash growth value is tax-deferred in a whole life policy. Withdrawals can be made from the cash value of these policies to help with emergency expenses.
Does a child or an elderly parent depend on you — a spouse? If yes, then you need life insurance. Stacy Agency, based in Ohio, can help tailor a life insurance policy to the personal and financial needs of you and your loved ones. The most common and popular types of life insurance policies are:
Term life policies provide protection for only a certain time period. Generally, policies last for 1, 5, 10, 15, or 20 years, but some term policies last until you turn a certain age, like age 65 or 80.
Whole life policies offer coverage for your lifetime, and your premium rate is locked once you buy the policy.
Universal life policies are permanent life policies offering flexible premiums and death benefits. These policies can build cash value, which earns a periodically adjusting interest rate, but the rate is normally guaranteed not to fall below a specific percentage.
Stacy Agency is here to help you, our Ohio neighbors, choose the life insurance policy best-suited to protect the future of your loved ones. Contact us today.