Life insurance is essential for everyone. We can’t predict when or if something were to happen to your life, but we can be your safety net if and when it does. Life insurance isn’t the easiest subject to think about, but it is something that we have to. Troy True Insurance has several options available for you regarding life insurance. Funeral and medical cost could create a huge burden on you and your family. We can take care of these expenses in case tragedy strikes. We offer several policies such as term life insurance, whole person insurance, universal insurance, key person insurance, and comprehensive insurance. These policies are tailored to fit your specific needs, and we are here to help you figure out which one is most suited for you.
Term life insurance is like a whole temporary insurance. It isn’t partial; it isn’t halfway, it covers all of your costs but for a certain period. Term life is exactly what it sounds like, coverage for a term. The policy will be a certain amount of money that covers that certain term and it will stay the same, and will not raise until the term is over. Once the term is over, the policy will raise with age. Term life covers medical debts, funerals costs, and expenses of survivors.
Whole life insurance is the most popular and the most ideal. A policy will be set and it will last the entire duration of your life for a set premium at a specific price that will not change as long as the policy is kept in tact. Your premium will not raise if the policy is still held in tact. Whole life also covers medical debts, funeral costs, and expenses of survivors.
Key person insurance is essential to the business owner and essential employees. This policy covers members of a business who are vital to the operation. This is a group policy that will cover a group of people in your business if something were to happen to one of the people or all of them. This covers medical expenses, funeral costs, as well as financial support for the survivors. If a person chooses to leave the policy, the remaining members will not be penalized for their absence.
This policy of life insurance is very flexible. With universal life, you will have the ability to raise or reduce your policy benefits at any time. This is called the “flexible death benefit.” This is the most flexible a life insurance policy will get. Your cash value is credited each month with interest. There are advantages to this policy, with the flexibility, but as you never know what life will throw your way, universal life is a risk. Speak with one of our associates about your universal life insurance options.