Individual Life Insurance
Life insurance from Klinger Insurance Group can help you secure your family’s financial future by providing the funds they need to cover burial expenses, uninsured medical bills, pay off your mortgage and other outstanding debts, and maintain a comfortable standard of living.
There are a variety of life insurance policies that we can provide. The kind of policy you choose depends on your needs.
Term Life Insurance
Term Life Insurance is a low-cost way of providing maximum coverage for your family. Protection is provided for a limited number of years. The insurance expires without value if the insured lives beyond the policy period, usually 5 to 30 years. Other policy life periods are available.
Term insurance premiums will not increase during the guaranteed policy time period (term) you select. Term Life Insurance pays a death benefit only if you die during that term. Term insurance generally provides the largest insurance protection for your premium dollar.
Term Life Insurance remains in force for as long as premiums are current, provided there are no misrepresentations on the application. The insurance coverage terminates if you discontinue your premium payments.
Universal Life Insurance
Universal Life is characterized by flexibility. Policyholders can determine the amount and frequency of premium payments (the more you pay, the less time it will take you to finish the payments). Your premiums cover the insurance, the savings or investment element and the expenses. The stated interest on the investment portion changes along with movement in interest rates; moves of 1/4% interest are typical as banks and other financial institutions make similar moves.
Whole Life Insurance
Whole Life Insurance provides permanent protection for the “whole” life of the insured – from the date the policy is issued to the date of the insured’s death, provided that premiums are paid. Premiums are set at the time of policy issue and remain level for the policy’s life. Unlike term insurance, whole life combines insurance protection and savings or cash value which builds over time. Cash value build-up may provide a source for living benefits, for example, you can take a loan against the cash value of the policy to help pay off a mortgage, or a child’s education. If the policy is cancelled after the policy has cash value, there will be a cash surrender value if all premiums were paid and all loans paid back.
These products are continually changing and we can provide you with the latest information and policies available!
Want to see how much we can save you? Just request a quote to find out.