While many associate life insurance with end-of-life expenses, local Country Financial Representative Tiffany Cole explains that is not the case with all policies:
“It comes down to the individual and their particular situation. If they have savings to fall back on, what their goals are for their life insurance. Sometimes it is not just final expenses. A lot of times it is to assist with succession planning or if they are charitably minded, leaving some resources for their favorite charities, life insurance is great for that. Of course, leaving to family for leaving a legacy there, replacing income if it an untimely passing, or providing resources for their children or grandchildren’s education. It just comes down to having a lot of very heartfelt conversations between our clients and myself, determining what their goals are and what they really want to happen. Then we back feed in with what plan makes the most sense.”
When it comes down to choosing a life insurance policy, it comes down to duration and flexibility. Term Life Insurance covers a limited time frame, while Permanent Life Insurance remains active throughout a policyholder’s lifetime.
