Best and most Affordable Life Insurance in Southeastern Pennsylvania
If you’re looking for life insurance from King of Prussia to Reading and from West Chester to Allentown (and the surrounding areas), contact the life insurance experts with our agency at 610-413-9880. We can help you choose the best coverage for your individual circumstances.
Additionally, because we are an independent insurance agency, we can shop to find the best priced life insurance through some of the nation’s largest life insurance wholesalers. For an instant life quote, fill in your information below.
What Is the Best Type of Life Insurance?
Often there’s confusion on what type of life insurance is best. Some agents advocate only purchasing term insurance, others claim that universal life or whole life policies are best.
We believe the true answer is based on your individual circumstances and that’s why you can count on us to help you make the best decision for your life insurance needs!
Why not give us a call at 610-413-9880 or email us at firstname.lastname@example.org to set up a time to discuss your life insurance needs?
Three Different Types of Life Insurance Available
There are three basic types of life insurance available for Pennsylvania residents:
Group Life Insurance
Permanent Life Insurance
Term Life Insurance
Group life Insurance coverage may be available through your employer. Depending on your age, build, and health, group coverage may be more expensive than purchasing a life insurance policy on your own through an independent agent.
If you leave your employer, you may also lose your coverage, or find that your rate jumps dramatically if you decide to continue coverage on your own. If there are health or age concerns, then group coverage can be an affordable way to get the coverage you need for less. We will be able to help you figure out which plan or combination makes the most sense for your needs.
Whole Life Insurance coverage is more expensive than Group or Term Life Insurance, but provides permanent coverage, perhaps providing an instant estate for a loved ones. There is also a tax-free cash growth component; however it typically is not more than 4-6%.
These plans can be complicated with varying fees and surrender charges. Because coverage is often carried for decades, one must consider Whole Life insurance as a long-term relationship with the insurance carrier- thus carrier choice is very important. If you live to be a 100 years old, you want to make sure your insurance carrier will still be around too!
Term Life Insurance is a low cost way to provide financial security to your loved ones. There are many reasons to purchase term insurance- to have funds available to pay off mortgage, replace income of deceased, to have funds available to hire a caregiver for young children, and to have funds available to pay off loans (i.e., college loans).
Typical terms available are 10, 20, 25 or 30 years. Many people purchase term coverage in addition to Group or Whole Life because it is so affordable.
Do you know anyone who left their family without life insurance, or too little? Many of us do! While buying life insurance may not be the world’s most exciting way to spend money, it’s one of the smartest financial moves you can make. The difficult part is figuring out the answer to the question, “How much life insurance do I need to buy, for how long, and what kind is best?” Call us at 610-413-9880 and we’ll help you through the many options available to protect your loved ones.