Everyone's life insurance needs are different. Having the right policy catered to your personal needs is crutial in attaining the financial security you expect for your loved ones. The purpose of life insurance is to provide for the loss of needed income when you are gone. The designated beneficiary receives the policy proceeds, thereby safeguarding them from the financial impact of the insured's passing.
The Windsor York is here to ensure your life insurance is uniquely catered to your changing needs.
TYPES of LIFE INSURANCE
Purchasing the right policy for your needs is the most important aspect to consider when obtaining life insurance. While there are many types of life insurance products available, the three most commonly obtained types include Term, Whole Life and Universal Life.
Term Life Insurance:
Term life insurance offers a guaranteed protection for a fixed number of years, usually between ten to thirty. Premiums are also guaranteed for the duration of the chosen term. Term insurance premiums are substantially lower than most other life products available, making them a popular selection for first time life insurance buyers. Term products are ideal for, and usually obtained by, individuals to cover mortgages and when children are young to ensure education funds are available. Additionally, term products have the ability to be converted to permanent coverage in the future.
Having trouble figuring out what type of policy is best suited for you? Contact a member of the Windor York team. We will assess your needs and goals to provide you with our expertise guidance and advice to help you make the right choice. Get the peace of mind knowing your loved ones will be taken care of when you're gone.
Contact us for a
HOURS & LOCATION
3435 Camino Del Rio South, Suite 315
San Diego, CA 92108
Monday - Friday
8:30 am to 4:00 pm
Evenings and Weekends by Appointment
Whole Life Insurance:
Whole life insurance are permanent policies. That means they're designed to last and provide coverage protection for your entire life and won't expire after a certain period of time as long as the required premiums are paid. They offer a guaranteed premium and death benefit while also having the capability to accumulate and build a cash value which can be used while the insured is still living.
Universal Life Insurance:
Universal life, or UL policies, are also a form of permanent coverage. The flexibility that a universal life policy provides is the key differentiator versus whole life. Some flexible options of a UL include the ability to increase or deacrease the policy benefit amount, as well as having flexible premium options that may allow you to adjust how much you'll pay each year, by accessing some of the policy's cash value.