Your life and your ability to earn income are among the most important things you can insure. Life insurance can help protect your family from serious financial hardship if the primary income earner were to die prematurely. Many workplace group programs provide some coverage, but it is rarely enough, especially in cases where there is a mortgage and young children in the family. Let an HMS life agent help you find a plan that suits your needs at an affordable cost. We are confident that our clients always get the best value for their dollar.
Options to Consider
You will be covered for a specific period of time (5, 10, 20, or even 30 years) and the cost of your policy is guaranteed for the entire term. If you die while the policy is in effect, your beneficiaries will receive a tax-free payment. And, with most policies, you also have the option to convert your coverage to permanent insurance regardless of any changes to your health, occupation or lifestyle.
Permanent plans (such as Whole Life or Universal Life) provide lifetime protection at a level cost. Most permanent policies have a cash value component that may eventually be withdrawn, or even applied toward future premiums.
Mortgage life insurance offered by an insurance company continues to insure you for the original amount, even though the balance owing on your mortgage is declining. Do your research before buying mortgage insurance from a bank.
Universal or whole life insurance generally provides permanent coverage at a guaranteed rate while growing in value as an investment. These policies will often allow you to cash out against them as well and offer a payout.
Getting a Quote
If your interested in a quote or just have some questions please contact one of our HMS offices, and we can direct you to one of our qualified life agents.