How much life insurance should I purchase?
If you have a family, many experts suggest that you need an amount equal to 5 to 10 times your annual salary. However, many people own higher coverage's to provide more income for their family.

What is the difference between term and permanent life insurance?
Term insurance provides you with coverage for a specific period of time. It pays a benefit only if you die during that term. Some term insurance policies can be renewed at the end of the period. Others give you the ability to reenter. Premium rates will increase at each renewal date or each reentry. Many policies require you to provide evidence of insurability at reentry in order to qualify for the lowest available rates. Because term insurance premiums are generally lower than permanent insurance premiums, you can usually afford a higher level of coverage. Term insurance is good for covering responsibilities that will diminish or end over time, for instance, mortgages or car loans.

Permanent (or cash value) insurance is designed to be a lifelong policy and is known by a variety of names. As long as you pay the necessary premiums, the death benefit will always be there. These policies are designed and priced for you to keep over a long period of time.

For more information, consult the links on the right, or contact Melissa!