legacy
noun [ C ] US /ˈleɡ·ə·si/- something that is a result of events in the past
- A legacy is also money or property left to a person by someone who has died
Term Life Insurance
This type of insurance covers the insured for a specific period of time; usually 10, 15, 20, or 30 years. In a typical Term policy, if the insured survives the term of the policy, the policy expires and pays out nothing. Although, now there are different types of products available like Return of Premium policies, where at the end of the term, the premiums that were paid into the policy, are returned to the policy owner. This type of insurance is also referred to as Mortgage Insurance, because it is usually used to insure an income that’s needed to pay major household bills such as a mortgage.
Whole Life Insurance
Also known as Permanent Life Insurance, this type of insurance covers the insured for the duration of their life, and pays the beneficiary when the insured dies. Typically, the premium rate is a fixed amount and cannot increase throughout the insured’s life. It also builds cash values that can be borrowed against.
It’s Your Legacy, So Let’s Plan It…
Legacy Quotes has experienced licensed agents, that put the client’s needs first. Our agents work with several top rated carriers, finding you the best fit for your needs. Whether you’re looking to cover Funeral & Burial expenses or looking for Mortgage Protection, we’ve got your covered!
It’s a one stop shop. What are you waiting for?
Buyer Beware… of Life Insurance through the Mail
These products are usually not in your best interest. Preying on the uneducated insurance consumer, and leaving you unaware about what type of product it is. Typically, one of the following happens:
- You get placed in a whole life product, but in the high risk pool, paying more than you may need to and having a two year waiting period before your benefits begin.
- You get placed in an increasing term product, where premiums are periodically increasing, but not the benefits.