Life insurance can be a complicated coverage with many different payment structures and various benefits. At Alliance Insurance Group of Colorado Springs we can work with you in order for you to fully understand the difference in certain life insurance policies in order for you to make the right choice. We will take the time to understand your needs and budget to help you determine what may be best for you.
The two main types of insurance are Term Life and Permanent life.
Term Life insurance will meet temporary needs. This coverage provides protection for only a certain period of time. This means your family would only receive benefits of you pass during the set time period. If for instance you think you only need coverage until your children hit a certain age this would be the coverage for you.
Permanent life insurance provides lifelong coverage. If you continue to pay the life insurance full benefits will be paid out to beneficiaries when the time comes. This type of life insurance can be seen more of an investment, even for yourself, than term life insurance would be.
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These can be complicated insurance polices. We will work with you in order to fully educate you on what each coverage type means in order to determine what makes the most sense for you.