What is life insurance?
Life insurance is designed to ensure that the people you care about - namely your children and partner, will be taken care of financially after you pass away. With a life insurance policy, your family can receive a payment when you die, as long as your premium is active and paid for at the time of your death. That payment can be used for whatever your beneficiaries want or need, including funeral expenses, paying off outstanding debt, college tuition and more.
How Can We Help?
Benefit Bloc is here to help you determine which life insurance policy you should offer as part of your employees' health benefits. We are a locally owned independent agency with the ability to get quotes from over 70 life insurance carriers. This is why we only utilize the top-rated carriers and do our research, so you don't have to!
Schedule an appointment at Benefit Bloc by filling out our easy online form.
Different Types of Life Insurance Policies
Term Life Insurance
Term life insurance lasts for the number of years you choose for it. Options typically include 10-, 20- and 30-year plans. If you were to pass away during this term, your beneficiaries will receive the death benefit amount. This is the most affordable option and is utilized for replacing lost income, covering burial expenses, paying off debt, business protection, key employee insurance, and estate planning, as well as general peace of mind.
Whole Life Insurance
Whole life insurance is also known as permanent life insurance, as it stays with you throughout your entire life. These plans can be a good fit for complex financial scenarios as some policies offer an investment-style cash value with tax-deferred savings.
Universal Life Insurance
Universal life insurance policies are more flexible but demand the most work to be properly maintained. They offer the ability to build cash value and your premiums can go toward the cash-value accumulation along with the death benefit. You can adjust the amounts without changing to a new policy. These policies also have interest rates that are sensitive to current market fluctuations.