Life Insurance in Bryan OH and Defiance OH

Insurance is a great tool for risk management but it also enables you to insure your person, thereby protecting the financial interests and well-being of your loved ones should something happen to you. This type of insurance is called life insurance and it comes in a few different flavors. Beck Insurance Agency can help you with life insurance in Bryan OH, Defiance OH, Montpelier OH, Waterville OH or Wauseon OH.

As a provider for your family and loved ones it is just natural that you would want them to be taken care of when you no longer can. Life insurance lets you do just that. You get two main types of life insurance – term life and whole life. Term life covers your life for a fixed period – normally 20 years. Should you die during this time frame your life insurance will pay out the benefits specified to your name beneficiaries. This could be in the form of a lumps sum or annuities or some combination of the two. Term life insurance is cheaper than whole life and is a good option for young couples starting out or someone who needs cover for a certain period of risk.

Whole life covers your life for as long as you live. You just need to pay the premiums. Should you die at any point in time, your named beneficiaries will receive the benefits specified in the policy. Whole life insurance can also include and investment portion which will in time assume a cash value. This type of policy is also referred to as an endowment policy.

Life insurance can also be extended to include disability cover. That way you can still receive an income and provide for your family should you become disabled and be unable to work.