Term & Whole Life Insurance in PA
Life Insurance In PA
Give your family the financial peace of mind they deserve. Figuring out the life insurance policy that is best for you can be overwhelming. Whether you’re located in Delaware County, Montgomery County, Chester County, or Bucks County Risk Averse Insurance can help you! Contact us today and a Risk Averse agent will discuss all factors that should be considered, and whether term life or whole life insurance is the right option for you.
Term Life Insurance
Term life insurance provides coverage for a certain time period or “term.” You choose the term when you buy the policy. Common terms are for 10, 20, or 30 years.
When to shop for term life:
- When you want to choose a term to cover the years you’re paying bills, mortgage, car payments, etc., and want life insurance in case of premature death.
- Buy an amount your family would need if you were no longer there to provide for them. The payout, or death benefit, could replace your income and help your family pay for services.
Whole Life Insurance
Whole life insurance provides a death benefit for your entire life. This type of life insurance also includes an investment component known as the policy’s cash value, which accrues value over time. This allows you to borrow or withdraw funds as needed. Although whole life insurance policies are more complicated than term life policies, they are slightly more straightforward:
- While the initial premium is higher, it remains the same for as long as you live.
- The death benefit is guaranteed
- The cash value grows at a guaranteed rate, which means you’re building equity.
If you’re looking for life insurance in Pennsylvania, contact Risk Averse Insurance today! As an independent insurance agency, we can shop for the best deals for you!