Life insurance is an important part of your family’s financial plan in Denver, CO. It provides protection for your spouse and children in the event of your untimely death. Sufficient coverage gives you the peace of mind that if something should happen, your family will be able to survive with the loss of your income. Yet, only half of young families have the protection of life insurance a study by the National Association of Insurance Commissioners found. Further, those who did have insurance were underinsured. AFI Insurance can help you with the coverage you need.
Term and whole life are two types of life insurance available. Term life insurance covers an individual for a specific period of time. It does not accrue cash value. It can be renewed but the premiums may increase over time. Whole life insurance policies cover the individual for the length of their lifetime. As long as the premiums are maintained, the policy will protect the family and grow in cash value. While premiums are higher for whole life policies, when they reach the level that they cover the death benefit, they will be invested and begin building value. You can borrow against this amount if you need to. You will have to pay back this policy loan with interest. However, in many cases, the interest rate will be lower than a bank or credit card. The policy loan can be used for anything that you would like from bills to vacations.
The team at AFI Insurance serves the Denver, CO area. They can help you get the protection you and your family needs. Visit their website for information to get started. Then give them a call or visit their offices today.
