Individual life insurance helps safeguard the financial future of your family.
Ensure that your family members are provided for by securing individual life insurance, giving you peace of mind regarding their future needs.
An important investment you can make for your family.
Personal life insurance is considered one of the most significant investments you can undertake to ensure the financial security of your family. While the topic may seem complex, it is important not to be deterred. Engaging in discussions and gaining a clear understanding of the various types of life insurance will empower you to make informed choices that best suit your family's needs.
How to choose between term, whole, and universal life insurance.
Initially, it is essential to identify the specific type of life insurance you wish to purchase. The most prevalent options include term life insurance, whole life insurance, and universal life insurance. Each type has distinct payout structures, and the selection of a plan should be based on your personal requirements.
What is term life insurance?
Term life insurance involves the payment of regular premiums over a predetermined duration, with the policy providing a payout only in the event of your death during that timeframe. This type of policy may be suitable for individuals seeking substantial coverage while operating within a limited budget, or for those who require life insurance for a defined period. It is essential to understand that premiums generally rise as you age, and some policies may necessitate a medical examination.
What is whole life insurance?
Whole life insurance does not have a predetermined term. Typically, policyholders make consistent premium payments throughout their lifetime, and upon their death, the policy disburses a benefit. In certain cases, there may be an option to withdraw a lump sum while still living; however, this will decrease the total benefit amount payable upon death. This form of life insurance is the most widely owned, as it offers both a savings component and a death benefit.
What is universal life insurance?
Universal life insurance operates similarly to whole life insurance, yet it offers greater flexibility regarding early withdrawals. Policyholders have the option to borrow against the policy and repay the amount at a later time; however, it is important to note that any outstanding loans at the time of death may considerably impact the policy's death benefit.
What you need to consider before getting life insurance.
The premiums you are required to pay are significantly influenced by your age and medical history, as well as the desired payout amount of the policy. Certain policies may also necessitate a medical examination for eligibility. Given that your circumstances are distinct, it is essential that the life insurance policy you select aligns with your individual requirements. Are you considering life insurance to safeguard the future of your family and loved ones? Reach out to us to explore the available options, enabling you to assess whether term life insurance, whole life insurance, or universal life insurance is appropriate for your needs.
Prefer to speak with someone from Dotterer Insurance? Contact us directly.
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Summerville, SC Office
870 College Park Road
Summerville, SC 29486
Orangeburg, SC Office
1628 Saint Matthews Road
Orangeburg, SC 29118
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At Dotterer Insurance, our mission is to help you protect what matters most with coverage you can count on from people you trust.
We are licensed in South Carolina, North Carolina, Virginia, and Georgia.
