Lifetime security for you and your family
There are many choices when choosing between life insurance policies. But because of the number of policy options, there is usually an option that suits every need. RJF GROUP can help you and your family find the perfect solution for your specific needs.
Term life insurance provides you with coverage for a specific period of time. It pays a benefit only if you die during that term. Some term insurance policies can be renewed at the end of the period. Because term insurance premiums are generally lower than permanent insurance premiums, most people can usually afford a higher level of coverage. Term insurance is good for responsibilities that will diminish or end over time, for instance, mortgages or car loans.
Permanent insurance is designed to be a lifelong policy and is known by a variety of names. As long as you pay the necessary premiums, the death benefit will always be there. These policies are designed and priced for you to keep over a long period of time.
Permanent life insurance policies can build cash value over time.
In addition, permanent life insurance policies can build cash value over time. This is money that can be borrowed against and, in some cases, withdrawn to help meet future goals. Please note that accessing your cash value may reduce the death benefit and increase the risk of lapse.
Life insurance benefits before you die
Most people only see the benefits of life insurance as being applicable after a person has died. But life insurance policies are often used in situations where the insured is still living. Your life insurance funds can be used for a number of needs, including:
- Any needs after the time of death, such as final illness expenses, burial costs and estate taxes.
- Funds for a readjustment period, to finance a move, or to provide time for family members to find a job.
- Ongoing financial needs, such as monthly bills and expenses, day-care costs, college tuition or retirement.
