At Acentria, we care about helping you protect your most important assets – and that includes your own life. Our life insurance rates and policies are designed to safeguard your loved ones and dependents to help reduce or eliminate financial hardship if you were to pass away.
You won’t always be there – so it’s important to set your loved ones up for a stable future today. If someone depends on your income, life insurance offers him or her protection for a time when they may need it the most.
In the event of your death, a life insurance policy from Acentria helps your beneficiaries:
At Acentria, we are here to explore the best life insurance option for you, whether you are looking to purchase an affordable term life insurance policy for a specific period of time, or more permanent life insurance that offers long-term coverage and benefits. We’ll help you meet your family’s needs and budget – while providing you with some much-needed peace of mind.
A life insurance policy is a contract that provides your designated beneficiaries with a sum of money in the event of your death. Its purpose is to safeguard your loved ones or dependents from monetary suffering, particularly with an unexpected death. A valid and funded life insurance policy remains effective until your death.
That depends! Many people decide on the amount of life insurance to purchase based upon an income replacement calculation, typically between five and 10 times the amount of your current income. Think about your personal circumstances; is your income the sole income in your household? Are there other expenses, such as college tuition, that may arise in the future? Don’t forget to include potential medical and funeral costs. Above everything, you want to ensure your family doesn’t get stuck with bills, debts or expenses that they cannot afford.
Yes! The four main types of life insurance policies are whole life insurance, universal life insurance, term life insurance and variable life insurance:
Whole Life Insurance: Otherwise known as straight life or permanent life, whole life insurance is the most traditional life insurance policy. Whole life is designed for customers who value absolute guarantees and consistency in rate of return, cost and benefits. These policies are more expensive than term policies in the early years, but they even out because of steady premiums.
Universal Life Insurance: Universal life insurance is a type of permanent life insurance that offers more flexibility in premiums and face value throughout the policy. Universal life insurance policies have the potential for higher earnings on the savings component, and there is usually a guaranteed return on the cash value. Disadvantages include possible higher fees and increasing premiums.
Variable Life Insurance: A variable life insurance policy is also a form of whole life insurance that typically has fixed premiums. With variable life insurance, you maintain control over the investment decisions for the cash value portion. However, this may be a riskier option because there is no guarantee for the cash value.
Term Life Insurance: Unlike the others, term life insurance is life insurance that protects you and your dependents for a specified period of time. It’s the simplest and cheapest form of life insurance, but there is no cash value. Once the period is up, your policy becomes invalid.
Life insurance policies are widely dependent on your financial situation, age, income and proximity to retirement. Luckily, it’s not your job to determine which policy fits your needs – it’s ours! Contact us today and one of our agents will design a complimentary, customized quote.
Take the Next Step
Whether you are 25 or 55, a life insurance policy gives you peace in knowing that your loved ones will be covered, even when you’re gone. If you already have life insurance through your employer, you still may be underinsured. Let our trained agents work with you to ensure that there aren’t any gaps in your current coverage.