Life Insurance
Term life insurance, universal coverage, and whole life policies are common policies you will interact with when looking for life coverage within Pennsylvania. These often come with different coverage features, with The K V Agency creating custom policies based on your needs and circumstances. Below, we discuss the differences in the above-listed insurances.
Whole Life Insurance
This policy lasts until you pass away, making it a life-long policy. Your beneficiaries receive the payout after this, allowing them to handle everyday expenses. This policy has a cash value feature that builds value over the policy term, increasing the payout for your loved ones. It can also be redeemed, acting as a source of relief during your retirement.
Universal Life Insurance
Universal life insurance covers you until you die and often comes with flexible terms. It allows you to customize your payment plans based on various needs, such as when you need to move to a new job, have a newborn, or need to decrease your mortgage plans. It also provides a cash value component that accumulates over time. This makes it ideal for covering your loved ones' everyday needs, whether childcare costs, real estate obligations, and tuition fees. It can also help offset final expenses, providing relief for your family.
If you need life insurance within Pennsylvania, make it a point to call The K V Agency today. Our agents will take you through the various policies and underwrite a cover suited to your needs.