West Virginia Life Insurance

Are there people in your life that would be financially harmed by your passing?  If the answer is yes, you need life insurance.

lifequote

Life Insurance is a very important building block in any financial plan, and if there are people that you care about who would be affected financially from your death, then you need to speak to a professional agent who can help guide you through the process.

Life Insurance

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Life insurance can be used to:

  • Pay for final expenses and estate taxes
  • Replace income of the deceased person for a surviving spouse or children
  • Send children to college
  • Pay off a mortgage or a business loan
  • Build financial security
  • Help fund charitable contributions to your favorite charity or school/college/university

How Much Life Insurance Do I need?

Determining the proper amount of coverage is the first step in the process.  The proper amount will depend on your income, dependents, debts, your lifestyle, and other factors.  Each person we work with is different, and it is important to consider what would happen to your loved ones and how much money they would need to sustain their lifestyle.  Contact us to set up a time to discuss your options.

There are two basic types of life insurance; term life insurance and permanent life insurance.

Term Life Insurance

Term Life Insurance, as the name implies, lasts for a certain number of years.  You can choose 5,10, 15, 20, and even 30 year term life insurance policies.  Term Life Insurance can be compared to renting the coverage, and the premium (the amount you pay for the policy) is guaranteed to stay the same for the life of the term.  Term life is the most affordable way to start a plan, but once the term expires, the premium will increase dramatically.  All term insurance plans we represent are convertible to permanent policies, giving you added security in the event of a health change later in life.

Permanent Life Insurance

Permanent Life Insurance is designed to last your entire lifetime.  The premium is guaranteed to never increase as you age, and this type of life insurance can also offer other features such as cash value accumulation that can be used later to supplement retirement, or can be used to help pay for the premium later in life.

At Deacon & Deacon Insurance Agency, we understand that there are many choices and this is why we are an independent agency; this means that we do not work for any one insurance company.  We can offer you many companies to choose from, and this is important because as I have stated several times, this is not a one-size-fits all decision.

We understand complex underwriting situations and have the resources to determine the best fit for you.  Call us today at (304) 720-5641 for a no-cost consultation to discuss your needs.

 

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