Life insurance can be a foundation of a family’s financial security, and having coverage is the best way to help protect your family now and in the future. There are several different life insurance options available, and deciding which one is best for your family depends on your unique needs and where you are in life. At First Heritage Insurance Agency, we help you sort through your options to find the best policy for your family at the right price.
There are several life insurance policy options—each one with unique benefits and levels of flexibility. The most basic life insurance option is term life insurance, which offers guaranteed protection for a set amount of time. It’s often simple and can be upgraded to more permanent coverage later, making term life insurance a good choice for younger families. For more permanent coverage, whole life insurance is also available. As its name suggests, whole life insurance offers protection for a lifetime, and it can also build tax-deferred cash value over time, which you can access to help pay for a home, a child’s college tuition, or any other major life expense. You can also use the growing cash value of a whole life plan to help build up your retirement savings.
More flexible life insurance policy options include universal life and variable universal life insurance. Universal life offers the same lifelong protection of whole life insurance, but it doesn’t build cash value over time. Instead, universal life gives you the flexibility to change your benefits and premiums as needed. With variable universal life coverage, you could have lifelong protection plus investment opportunities that may grow cash value over time, depending on the market.
Deciding which policy type is best for you and your family depends on several factors, including your income and how many dependents you have. Our team can help you navigate your options, and we’ll shop around to find you the best coverage for the right price. We’re well versed in New York’s unique life insurance rules, regulations, and protections. These include a 10-day “free look period” in which you can test out a new policy before settling in, with a full refund if you decide to cancel.
Getting started with a life insurance policy is as simple as getting in touch with the team at First Heritage Insurance Agency. We’ll assess your unique needs and expectations and shop around to help find the best coverage options for you. We also offer rewards to customers who refer family members to our agency. Contact us today at 631-659-2889 to request a free quote.