Choosing a life insurance is one of the most important decisions you can make. There are many insurance policies in the market and narrowing down to one that meets your needs can be a task. Freedom Life insurance offers you two major life insurance policies: Term life insurance and Permanent life insurance. Find out here which of the two is for you.
Term Life Insurance.
If you intend to have funds at a particular time, then you should consider term life insurance. Freedom Life insurance gives you this favorable coverage to shoulder your burden at that time of need. An instance when you need to choose this is when you have kids and want to have enough funds by the time they will be ready to join colleges.
You need a more substantial amount of life insurance but have a smaller budget. Here, payment is only made if you happen to die during the term of the policy. At the end of the term policy, you will have to renew it or take a new one if you are still alive. You will however not build equity in the form of cash savings, unlike permanent life insurance.
If you cannot predict your future financial needs, then you need to consider flexible options that can allow you to convert your policy to fit your needs. Choose a plan that will allow you to change to permanent insurance for better premiums without the need for a medical exam.
Permanent Life Insurance.
You should consider this insurance for the following reasons.
You need a life insurance all your lifetime. A death benefit is given when you die, whether a few days after taking the policy or after many years. You can use the death benefit as collateral for a loan. The company collects its due then gives the rest to your beneficiary if you happen to die before repayment.
You want to grow a savings element without immediate tax deductions. You can borrow funds from here for your intended reasons as well as get your premiums paid if you can no longer afford to pay.
Freedom Life insurance just like the name gives you the liberty to choose from this covers and enjoy the benefits. Learn more: https://www.superpages.com/bp/fort-worth-tx/freedom-life-insurance-co-of-america-L0106853427.htm