Choose the Right Life Insurance in Chicago, IL to Protect Your Family

September 22, 2016

Find the right life insurance in Chicago!

From a mortgage to bills to buying groceries, it’s expensive to live. If your family suddenly lost their income, it would be detrimental to your finances. Unfortunately, no one lives forever, but you can lessen the blow of heavy financial burdens by giving your loved ones the protection they need. Life insurance is a necessary aspect in keeping your family secure even after you’ve passed. However, there are many different policies to choose from. Find the policy that’s right for you, and check out how to pick the right life insurance in Chicago.

Term Life Insurance.

A term life insurance is a perfect fit if you’re looking for a policy on a budget. It gives you great death benefits at an affordable rate. However, be aware that a term policy is only valid for a set period of time. When the term ends, you’re left without any coverage. If you know that you only need life insurance for a certain period, and you want to stick to a budget, then this policy is for you.

Permanent Life Insurance.

A permanent life insurance policy is great for the person that wants guaranteed benefits for the rest of their lives. That way you won’t have to worry about outliving your policy. Additionally, permanent policies tend to build cash value that can be later used if you find yourself in need of a loan. A permanent policy will give you coverage for the rest of your life, but keep in mind that these types of policies are more expensive. Also, know that certain policies aren’t flexible. Once you lock in your policy, you can’t change it in the future.

Get the policy that your family needs when looking for life insurance in Chicago. Located in Illinois, Thomas Ward Insurance serves all your personal and commercial insurance needs. Contact us for more information.