Life Insurance isn’t complicated or expensive when you work with one of our licensed agents. Let’s explore the options to help you protect your loved ones.
What Is Life Insurance?
Life insurance is a contract between a policyholder and an insurer, where the insurer agrees to pay a beneficiary a sum of money — in exchange for a premium — either on the death of the policyholder or after a set time period.
Since rates tend to increase as you age, consider buying a policy now to secure a lower rate.
Why Do You Need Life Insurance?
Many things can happen throughout your life. As your circumstances change, your life insurance needs do, too.
Starting Your Career
Life insurance can help you get lower rates when you’re young and healthy. You have many great years ahead of you. Protect your life at the best rate possible.
Growing Your Family
Whether you’re expecting a new child or purchasing your first home (or both), you have much to protect. Life insurance can help you provide income to take care of the costs, should something happen to you.
When it’s time to think about your children’s future, life insurance can help. For example, a policy can help cover their college tuition and provide financial stability to protect their life.
If you’re about to be an empty-nester or retiring soon, you’ll want to take that next step. Life insurance can help you protect children or grandchildren from debt and cover unexpected long-term care expenses.
Living in Retirement
You’ve worked hard. With some careful planning, you’re ready to enjoy retirement. Life insurance can help you with unplanned medical costs, pay final expenses, and leave a legacy to the ones who matter to you.
Buy Life Insurance in Minnesota
Life insurance from All Things Insurance is meant to protect people all over Minnesota, including communities like Duluth, Rochester, and Minneapolis.
If a child, spouse, partner, or a parent relies on you and your income, you need a life insurance policy. Not getting this coverage is a big mistake. Do it for your family and the peace of mind it will give you!
Types of Life Insurance
Whole Life Insurance
Whole life insurance is a life insurance policy that remains in force for the insured’s entire life and requires (in most cases) premiums to be paid every year into the policy.
Final Expense Insurance
Final expense insurance, also known as burial insurance, is a kind of whole life insurance intended to cover funeral costs. The policyholder names a trusted person as their beneficiary, and he or she can use the death benefit to pay final expenses such as burial or cremation, caskets, urns, etc.
Term Life Insurance
Term life insurance is life insurance that provides coverage at a set rate of payments for a limited period of time, the relevant term. If the policyholder dies during the term, the death benefit will be paid to the beneficiary.
Term insurance is the least expensive way to buy a substantial death benefit on a coverage amount — per premium dollar basis — over a specific period of time.
Universal Life Insurance
Universal life (UL) is a type of permanent life insurance that provides more flexibility. Policyholders can modify their premiums and death benefits. UL insurance premiums include two elements: a savings account, called the cash value, and a cost of insurance (COI) amount.
For more information on this insurance option, call us at (763) 645-5450.
Variable Universal Life Insurance
Variable Universal Life (VUL) Insurance is a kind of permanent life insurance that combines flexible premium pricing and cash value investment options into one policy.
VUL also lets you use your cash value to pay your premiums or take out loans. To see if a VUL policy may be right for you, get in touch with us.