Life Insurance

Dave Walkenhorst Insurance Agency Has Options When It Comes To Life Coverage

The insurance agents at Dave Walkenhorst Insurance Agency know life insurance!

Our dedicated team of insurance professionals understands the regulations you need to adhere to and can find the right plan, or combination of plan, for your specific needs.

3 Options…

You have probably heard about term life and whole life. Let’s quickly break down each and consider using a combination of term and whole life to meet specific needs.

Term Life Insurance Basics:

• Coverage for a “term” or period of your life
• Lower premiums for a higher coverage
• Rates can change after specific terms expire
• No equity – cannot be used as cash value

Permanent Life Insurance Basics:

• Exactly like it says – permanent, not for a specific period
• Protection carries with you your whole life
• Can build equity and have cash value
• Higher premiums than term life, but can be more valuable in the long run

Term and Permanent Together:

• Build lifelong base of whole live coverage
• Supplement specific times of your life with term insurance

When to choose term life?

Most people choosing term life coverage have a strategy for long-term net worth and need specific coverage for a period of their lives to protect debt, loved ones, and children. For a homeowner with children, it might make sense to have a term life policy to cover the mortgage and living needs until their children are old enough to provide for themselves. In this case, the term would expire around the time your children move out.

When to choose whole life insurance?

Whole life can be used in the retirement years as a cash asset. It can provide equity for loans and have fixed payments that do not increase with time. Many times whole life insurance policies will pay dividends, although not all do.

With so many options, many people find themselves overwhelmed when they receive a life quote. Let one of Dave Walkenhorst Agency’s insurance professionals put together the right policy for you.