There are several reasons one would be inclined to acquire life insurance including personal needs, business needs, and estate needs.
Business owners have unique life insurance needs extending from funding purchase and sale agreements, obtaining a loan from a bank, providing security for a key person or securing deferred income to an employee or employees.
Klug Insurance represents carriers that provide life insurance for people in all stages of life.
Types of Coverage
Term life insurance is typically the least expensive kind of life insurance. You generally lock in rates for a pre-determined period of time such as 10, 15, 20 or 30 years.
Whole Life Insurance is usually very conservative. Insurance carriers guarantee a level death benefit at a premium guaranteed for life. At any time during the life of the policy you can surrender the contract and receive a pre-determined amount of cash known as cash value.
Universal Life Insurance is a combination of term insurance and cash savings. Most policies have a guaranteed interest rate that will earn interest on the cash value of your policy but also provide the potential of a higher interest rate depending upon market conditions. Universal Life Policies are very flexible and allow the owner of the policy to modify the face amount or payments throughout the life of the contract.
Disability Income Protection
Disability Insurance is one of the most passed over types of insurance, but perhaps one of the most essential ones. We insure almost everything we own but often times the one thing that makes it all happen- our income, is ignored when it comes to insurance. Disability Insurance protects our income and guarantees us that the earning potential in our lives will be secured.