Life Insurance

Life insurance can be the foundation of your financial security and provide comfort and stability for your family. The purpose of life insurance is to help provide your loved ones with financial protection after you die, in exchange for the premiums you pay to your insurer during your lifetime. Some life insurance policies can provide you with financial protection for a specific duration. In contrast, others accumulate cash value, offering a living benefit that can be used for any purpose, such as to help supplement retirement income, funding for a child’s education, or cash for emergencies.

Some of the standard insurance policies include:

Term life insurance provides coverage for a set period at a generally lower cost than permanent insurance. Many term life insurance products allow you to convert to a permanent policy, such as whole life insurance. The cost of insuring oneself increases over time, so it’s essential to understand your short-and long-term needs for financial security when you select a policy.

Permanent life insurance provides you with financial protection for your entire life, as long as the policy remains in force. Due to the flexibility permanent life insurance offers, there are several types of policies you can purchase.

Whole life insurance benefits include guaranteed fixed premiums, a guaranteed death benefit, and guaranteed cash value growth. This means that with whole life insurance, your premiums never increase as long as they’re paid, and the policy has living benefits, which may enable you to access the cash value of the policy for any purpose while you’re alive.

Contact James Beach Insurance to get more information on our service offerings. We are here to help you.