Life Insurance

Life insurance is a savings plan and insurance rolled into one. Life insurance is insurance that protects your family and/or specified dependents in the event of your death. Therefore, it is an essential component in planning for your future and the future of your family.

There are three main categories of life insurance: term life, universal life, and whole life insurance.

• Term Life Insurance This is the simplest and least expensive type of policy. It's insurance with no cash value. The one and only function of a term life policy is to pay a specific lump sum to whomever you've designated when you die.
• Whole Life Insurance This type of life insurance provides permanent protection for your dependents and also builds a cash value account. With this type of insurance, the insurance company manages the policy’s various accounts.
• Universal Life Insurance This type of life insurance provides permanent protection for your dependents and is more flexible than whole life insurance or variable life insurance.

You’re probably asking yourself which kind of life insurance do I need?. The answer depends on your personal situation. Here are a few things to consider:

• Are you married?
• Do you have dependent children or other dependent relatives (seniors, disabled)?
• Do you have major financial obligations like a mortgage or multiple loans?

A good life insurance policy handles the financial responsibilities you’ll leave behind so that family members won’t be burdened. Call Kallman Insurance Agency today for your personalized life insurance proposal.