Nobody wants to think about when and why they will need life insurance. Having a good life insurance policy in place, however, is one of the best ways to take care of your family even after you are gone. Few things are more difficult on a family member than navigating the details of funeral expenses, medical expenses, and other logistics when they are trying to grieve. That is why at The Gibb Agency, we are always ready to help you be well prepared for loss when the day comes.
We will help you choose the right policy that fits your needs, and we are happy to advise you when the time comes to file a claim. There are two primary types of life insurance:
Term is the simplest version of life insurance. You pay a premium that applies only in the event of death. As the name implies, the policy expires at the end of its term, which is usually about 30 years. Term is generally less expensive and is often great for young and healthy people who just want a simple life insurance plan set in place in case of tragedy.
As the name implies, whole life is a policy that lasts for your whole life. It includes other benefits as well. There are several subtypes of whole life. These include traditional whole life, universal life, and variable universal life. Each type has important differences. Speak to an agent to find out which type of life insurance is right for you.