Life Insurance
If you have a family to protect, a sound life insurance program is the perfect solution. There are two basic types of life insurance needs: temporary and permanent.
Life Insurance in West Virginia and Ohio
Temporary needs include home mortgages or short-term debt reduction, family income and educational expenses and can last as little as one year or last 20 to 30 years or longer. Term insurance is the most cost effective method of insuring many short-term needs. There are a variety of plans to choose from, ranging from an annual renewable term (1 year plan) to a level term plan that could last 5, 10, 20 or 30 years.
Permanent needs include those that last for your entire life or potentially for periods of 15 years or more. Permanent insurance needs include final expenses, funds to cover estate taxes, and retirement savings protection. Permanent and universal life plans are ideally suited for meeting these goals.
The primary purpose of life insurance is to provide cash for your family in the event of your death to ensure that they can remain in their home and continue to maintain an adequate standard of living. There are a number of factors that determine the cost you pay for life insurance including:
- Age
- Health
- Tobacco use
- Occupation
- Hobbies
TERM LIFE INSURANCE
Term life insurance without cash surrender value or loan value which can be used as collateral for a loan. Term life insurance provides a pre-set amount of coverage if the policyholder dies during the period of time specified in the policy. Policyholders usually have the option to renew at the end of the term at the then current age rate. Unlike whole life insurance, premiums generally increase as the insured person gets older and the risk of death increases. More...
WHOLE LIFE INSURANCE
Whole Life Insurance is life insurance that is kept in force for a person's whole life as long as the scheduled premiums are maintained. All Whole Life policies build up cash values. Most Whole Life policies are guaranteed as long as the scheduled premiums are maintained. More...
UNIVERSAL LIFE INSURANCE
In many ways a universal life insurance policy looks like a whole life policy, but it is more flexible. It combines a term insurance with an investment program that pays a return based on market rates of interest. After making a required initial premium payment, the insured can make future payments at any time and in any amount. With this flexibility, the insured can design how much of the payment should apply to the insurance part of the policy and how much to the cash value. More...
Contact Bryan Insurance today at either our Moundsville, WV office on 304.845.0121, or our Wheeling, WV office on 304.233.5907 and let an experienced Life insurance professional discuss your life insurance options with you.