Are you concerned about how your family and loved ones will be left to handle your financial affairs in the event of your death? Are you concerned that your parents, adult children or siblings don’t have enough insurance to cover funeral expenses? Having life insurance ensures that your loved ones will continue to enjoy a good quality of life against any unexpected event. Generally, life insurance falls into two categories, term (provides coverage at a fixed rate of payments for a limited period of time) and permanent (provides death protection for the insured’s entire lifetime). TRI Financial Services is here to help you choose the right life insurance plan.
What is term insurance?
This type of insurance is meant to help you meet your needs for temporary coverage. The concept term means that it provides protection for a specific period of time. It usually only pays out if you die. It’s also usually very affordable. If you’re in the family planning phase, just bought a house, or even paying for your children’s college education, this type of insurance might be the best fit for you.
What is permanent insurance?
This type of insurance is designed to last a lifetime. Permanent life insurance accumulates cash value and is priced for you to keep over a long period of time.
The kind of coverage that’s right for you depends on your unique circumstances and financial goals. The best way to figure out the amount and type of life insurance that makes sense for your particular situation is to speak with us.