Get a Life Insurance Policy to Protect your Loved Ones

If you have people depending on you, you constantly worry about their future. What will happen when you are gone? Securing their future shows care and love. Life insurance helps ease the financial burden of your loved ones when you are no more. At Matthew Yancey Insurance & Real Estate, Inc. in Van Buren, AR, we help anyone one willing in Arkansas to access life insurance. The two most common types of life insurance are explained below:

Permanent life insurance

This type of life insurance offers a cash value component and death benefit protection. It does not have a time limit. There are many types of permanent life insurance, which include.

  • Whole life insurance – it is the most common type of life insurance. It has a fixed premium that remains the same throughout the policy. Part of the premium goes to the cash value component that grows tax-free. Some whole life insurance can pay dividends.
  • Universal life insurance – Universal life insurance offers a cash value component and death benefits. In this type of life insurance, you can choose the amount that goes to the cash value component and death benefit. You can also access the cash value.
  • Variable life insurance – Like whole and universal life insurance, it offers death benefits and a cash value component. However, this type of permanent life insurance has an investment option. The investment you choose can affect the death benefit depending on the ups and downs of the equities market.

Term life insurance

This type of life insurance offers death benefits without cash value. It has fixed premiums paid for a specific period. Benefits are paid if the policyholder dies before the policy expires. Term life insurance is renewable.

Life insurance lifts the worry about the future as it secures the future of your loved ones. If you are in Arkansas, call or visit us at Matthew Yancey Insurance & Real Estate, Inc. in Van Buren, AR to protect the future of those you love.

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