Life Insurance

Knowing our loved ones are secure and financially stable when we are gone is extremely important to most of us. The concept of Life Insurance is pretty straightforward – you pay for an insurance plan now to financially protect your loved ones should you pass away.

Although the concept is quite simple, it can be hard to choose between the many companies, options and types of Life Insurance out there. Tyrone Carr & Associates is here to help with making these important final expense decisions. As an independent agency, we have access to a variety of carriers that can offer you all the final expense benefits you need to ensure your loved ones are protected.

If you want Life Insurance to provide support to your loved ones in the event that you die unexpectedly, then basic protection or Term Insurance generally provides coverage at a lower cost than other types of insurance and can cover a specific length of time.

If you need long-term Life Insurance with the option to build cash value, Permanent Life Insurance may be for you.

There are 3 types of Permanent Life Insurance:

1. Whole Life Insurance – This is a life insurance policy which is guaranteed to remain in force for the insured’s entire lifetime as long as the required premiums are paid, or to the maturity date.  Premiums are fixed, based on the age of issue, and usually do not increase with age. This policy builds value based upon a set schedule.
2. Universal Life Insurance – This type of policy earns a fixed interest rate on the cash value in the policy. While the interest rate may change over time, it will never dip below a guaranteed minimum rate.
3. Variable Universal Life Insurance – This can be a riskier type of life insurance policy that allows you to invest your cash value into the stock market.

There is a lot to know about Life Insurance and we know choosing the right policy is an important decision for you and your family. We can also assist with any Medicare, health, home, auto, or commercial insurance needs for you and your family. Contact us today to learn more and to request a quote.