No one likes to think about what might happen when they’re gone. But taking time to think through that scenario is an important piece of planning that can prove invaluable to your family. Compiling a life insurance policy that covers your loved ones in the event of a major loss ca make that very tough time a bit easier.
At HTT Agency, family holds a special place in our hearts. Not only are we a family oriented business, but HTT has multiple clients that are third-generation customers. We’ll put our more than 50 years’ experience to work for you to provide life coverage that will put your family at ease.
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One thing that many people overlook when considering life insurance is the fact that life is not static. As life changes, so should your life insurance coverage. Major life changes like marriage, divorce, purchasing a new home, having a baby, retiring, or moving to a health care facility all affect the type and amount of life insurance coverage you’ll need. For instance, families with young children have different needs than empty-nesters. We hang our hat on serving families like yours in Ohio, Kentucky, and Indiana and providing the strong customer service that HTT has become known for throughout the tri-state community.
Here’s what to consider when choosing life insurance:
Term life insurance provides protection for a given time-frame (or term), which can range from as little as one to as many as 20 years. You get this coverage for as long as you pay for it, and payment is a fixed amount for the term you agree to. When you die, the policy pays out a death benefit, which beneficiaries can use for funeral expenses, estate taxes, debts owed, or any number of things.
Permanent (or whole) life insurance provides insurance as a type of investment by allowing you to build cash value. This type of coverage pays a fixed amount to your beneficiaries when you die, just like term life insurance. However with whole life, you can borrow accrued cash tax-free, which provides a type of “living” benefit. Because of this added advantage, whole life policies are often more expensive than term life policies.
Universal life insurance allows you the benefit of saving money (found in permanent life insurance policies) with the low-cost advantage of term life insurance. It features flexible premiums, and interest rates are variable as well.
Call on the HTT agent in your community to discuss what life insurance options are best for your family.