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Why Permanent Insurance Life Insurance is a Good Value

Permanent life insurance policies provide life-long protection for those they were meant to protect. If you are considering life insurance there are some very good reasons to choose permanent or whole life insurance. Here are five.

  • Permanent life insurance builds value. The longer you have it, the more it is worth. It will never go down in value, and you own and have access to that value.
  • Because it increases in value, its worth is there to help you in difficult financial circumstances.
  • Its worth is also available to help you take advantage of opportunities. You can borrow against your permanent life insurance policy to invest in a business or other promising enterprise.
  • Life insurance values are rarely used in consideration for student aid. That means your life insurance policy can build value while not hampering your children’s efforts to secure funding for higher education.
  • Permanent life insurance policies can provide additional retirement income.

Get a quote on life insurance now. Contact Save-on Insurance Services at our home offices in Los Angeles, California today!

Factors that make life insurance more expensive

Many of us are in need of life insurance. Especially if we have young children, a spouse who is dependent upon our income or a mortgage. Life insurance protects our loved ones should the unthinkable happen and ensures they can financially make it through their time of need. There are many different types, costs and levels of life insurance coverage available.

Depending upon the level of coverage you want and other factors, a life insurance policy can get expensive. Some factors which may affect the cost of a life insurance policy include those related to medical and family history and lifestyle choices. Below are different factors which can cause the cost of your life insurance policy to increase.

  • Tobacco use
  • Weight
  • Driving record
  • Cardiovascular disease
  • Cancer
  • Depression
  • Cholesterol levels
  • Diabetes
  • Asthma
  • Substance abuse
  • Family history
  • Occupation
  • Participation in dangerous hobbies

Take time to speak with your insurance agent to find out which factors in your life may affect the cost of your life insurance policy.

For more information about your life and other insurance needs or to get a quote contact Save-On Insurance Services.

Am I Too Young for Life Insurance?

When you’re a young adult, the question of life insurance seems like it’s a lifetime away. Still there are solid reasons to consider a policy. If you’re married or have kids, the advantages are obvious. If not, your policy can spare your family some unexpected expenses.

If you do feel that life insurance is the right choice, the next question is whether to buy term or whole insurance. Each model has several advantages for young adults.

Term insurance is bought for a specified period of time. During that time, you are covered. Whole life policies cover you for your entire life, as long as you pay the premiums. A small portion of the amount you spend on premiums is set aside as equity. You can cash out the equity later in life, so a whole life policy is actually a long-term investment.

Term policies usually have the lowest premiums, but whole life policies can be very affordable for young adults. Later in life, you may find premiums for a whole life policy are much higher. So if you’re interested in a whole life insurance policy, it makes sense to buy young. You also could buy a term policy, however, and put your money into investments with a potential for higher returns.

Save-On Insurance Services can help you evaluate your life insurance options. To learn more or get a quote, contact us.