Life Insurance for people over 40

Although there are several types of life insurance policies, term life is the least expensive.

It’s a temporary solution to lost income.

“It’s like renting an apartment. It covers your needs for a period of time, but when that term

is over you walk away from it and it is done.”

Term life lasts only during the policy’s period of time, but permanent life insurance, which

is more costly, provides coverage through the owner’s lifetime. It combines a term policy

with an investment account, called cash value, which can be borrowed against and used

for estate settlement and taxes.

Permanent policies include whole life policies, which provide a guaranteed death benefit

and a guaranteed rate of return on the cash values. There are also variable life policies, in

which the return varies according to the investment options, such as stocks and bonds.

While whole and variable require fixed premiums, a universal life policy allows the

premium to vary over time.

For most young people who don’t have a lot of money, term insurance is the answer.

But a permanent policy, which has more options, can make sense if they can afford it.

To consider your options, see an agent who deals with many life insurance carriers such

as Mintco Financial (www.MintcoFinancial.com or call 813-964-7100)

Get a free quote now: 813-964-7100 or visit website www.MintcoFinancial.com