Life is unpredictable. Life insurance can help to ease the uncertainty that life can bring, and helps keep your family taken care of in case you suddenly aren’t there to provide for them anymore. Explore Pfarr Insurance Agency‘s life insurance options.
Types of Life Insurance
There are different types of life insurance we offer, tailored to your needs and the needs of your family.
Term Life Insurance
Term policies are a temporary, affordable, direct policy plan that provides protection for your family within a specific window of time. Term policies is typically meant to sustain your income in your pass away during your career. Family can use this policy and the money from it to pay for childcare, rent or mortgages, and necessities like groceries or toiletries.
Term policies offers:
- Term lengths ranging between 10 and 40 years
- Tax-free death benefits
- Affordable plans and payments
- Flexibility in case you want to change to a long term policy
Universal Life Insurance
Universal policies are permanent policies that are flexible and allow for cash accumulation.
They also offer lifetime protection and flexibility to change later. Universal policies includes:
- Flexibility to change death benefit (as long as premium is paid)
- Death Benefit Protection
- May be connected to stock funds, with limits on gains or losses, depending on your policy. You can opt for a guaranteed annual return option as well.
Whole Life Insurance
Whole life policies are a permanent policy that includes fixed premiums and death benefits. With these types of policies, the amount of coverage you purchase initially stays consistent throughout your lifetime. The cost remains the same and is based off of the age you were when you purchased it. Funds allotted to your family after your passing are given tax free. Whole life insurance includes:
- Guaranteed growth of assets regardless of market.
- Death benefit protection
- The possibility to earn dividends and earn interest on certain policies
Variable Universal Life Insurance
Variable universal policies are a permanent policy similar to universal policies but allow for various investment options for your cash value and for flexibility in the death benefit. Variable universal policies offers:
- Complete market participation with no limits on gains or losses
- Wider ranges of options for investing