Life Insurance
Tailored Life Insurance Solutions for Your Needs
At Branford Realty and Insurance, we’re dedicated to helping you find the life insurance policy that best fits your needs. Whether you’re looking for temporary coverage with term life or long-term financial security with whole life, our experts are here to guide you through the options and ensure you make the best choice for your future. Let us help you secure the peace of mind you deserve.
What Is Life Insurance?
Life insurance is a financial tool that provides peace of mind by offering protection for your family’s future. In exchange for regular premium payments, the insurance company guarantees a lump sum to your designated beneficiaries upon your passing. This benefit is designed to help replace lost income, cover outstanding expenses, and ensure your loved ones’ financial well-being.
Additionally, certain life insurance policies offer living benefits, allowing you to access a portion of the death benefit if you are diagnosed with a critical, chronic, or terminal illness. This feature provides financial support during difficult times, helping you manage medical costs or other needs while you’re still living.
Which Life Insurance Fits Your Needs?
When choosing life insurance, you’ll generally find two main categories: Term Life Insurance and Permanent Life Insurance. Each offers distinct benefits depending on your financial goals and coverage needs.
Term Life Insurance
Term life insurance provides coverage for a specified period, such as 10, 20, or 30 years. If you pass away during the term, your beneficiaries will receive a death benefit. However, if the term ends and you’re still living, the policy expires with no payout. This option is ideal for individuals seeking affordable coverage for a set period, such as to cover the years of mortgage payments or children’s education.
Permanent Life Insurance
Unlike term policies, permanent life insurance provides lifelong coverage and doesn’t expire. It remains in effect as long as premiums are paid. These policies can also build cash value, which grows over time and can be borrowed against if needed. Permanent life insurance comes in several variations, including whole life, universal life, and variable life.
Whole Life Insurance
Whole life insurance guarantees coverage for your entire life, and a portion of your premium accumulates as cash value. This type of policy offers predictability, with fixed premiums and death benefits. It’s often used for long-term financial security. Smaller whole life policies, known as burial insurance, typically provide benefits ranging from $5,000 to $25,000 to cover funeral and final expenses.
Universal Life Insurance
Universal life insurance offers flexibility, combining lifetime coverage with the ability to adjust premiums and death benefits. This type of policy also accumulates cash value, and you can use this cash value to cover premium payments if needed. Universal life insurance is ideal for those who want more control over their policy’s terms and payments.
Variable Life Insurance
Variable life insurance offers both lifelong coverage and the opportunity to grow cash value through investments in various subaccounts, such as stocks and bonds. This policy type provides the potential for higher returns, though it comes with higher risk. It’s suitable for those willing to actively manage their investment options for potentially greater growth over time.
Top Insurance Carriers
Branford Realty and Insurance partners with top-rated life insurance carriers to provide you with reliable, flexible coverage tailored to your needs. Our trusted providers are recognized for their financial strength, exceptional service, and dedication to long-term protection. With a wide range of options available, we help you find the right fit for your peace of mind and financial security.
