Call now  (631) 358-5793
THE MODERN MEDICARE AGENCY
  • Medicare Explained
  • Medicare Advantage
  • Medigap
  • Medicare Part D
  • Medicare Seminars
    • Facts About Medicare
  • Other Insurance
    • Final Expense Insurance
    • Life Insurance
    • Annuities
    • Dental Insurance
    • Vision Insurance
    • Property & Casualty >
      • Peter Scmidt Evergreen Agency
  • About
    • Blog
    • Insurance Carriers
    • Client Testimonials
    • Accessibility Statement
    • Agency Photo Gallery
    • Insurance Videos
    • Privacy Disclaimer
    • News
  • Contact
  • Medicare Explained
  • Medicare Explained
  • Medicare Advantage
  • Medigap
  • Medicare Part D
  • Medicare Seminars
    • Facts About Medicare
  • Other Insurance
    • Final Expense Insurance
    • Life Insurance
    • Annuities
    • Dental Insurance
    • Vision Insurance
    • Property & Casualty >
      • Peter Scmidt Evergreen Agency
  • About
    • Blog
    • Insurance Carriers
    • Client Testimonials
    • Accessibility Statement
    • Agency Photo Gallery
    • Insurance Videos
    • Privacy Disclaimer
    • News
  • Contact
  • Medicare Explained

The Modern Medicare Agency Blog

Keeping The Best Life Insurance Policy

12/7/2021

0 Comments

 
Picture
​Maintaining life insurance is not something most people make a priority. In the case of the people who are willing to take the risk, it is still an uneasy topic. It needs careful planning, analysis, and assessment of one’s status whether a policy is still needed.
Types Of Permanent Life Insurance Policy
There are two major types of Term Insurance:
  • Level Term
  • Decreasing Term

While the other one is the Whole Life or Permanent Insurance that have three kinds:
  • Traditional Whole or Ordinary Life
  • Universal or Adjustable Life
  • Variable-universal Life

Level Term is preferred by most insured since the death benefit is stable throughout the policy’s duration. While Decreasing terms drop, its death benefit usually increases in the duration of the policy.

On the other hand, Whole Life or Permanent Insurance has different characteristics and provides additional benefits and risks. Traditional or Ordinary Life offers a savings account with the policy.

Universal or Adjustable Life Insurance offers the flexibility of each payment with additional features. Such as an increase in death benefit and a savings vehicle that may cover payment in case of economic changes. However, the coverage of a savings vehicle is only limited to the amount it currently has and can sustain.

Variable-universal insurance contains all features of an Adjustable policy but with a savings account that is used as an investment. This policy grows quickly, but the cash value and death benefit may decrease if the investment does not perform well.

Conclusion
The best life insurance to keep for a person depends greatly on the factors above. Without careful planning, analysis, and research, you could choose a policy that is not correct for you. Be sure to contact your agent to help you find the best fit for your needs!

At The Modern Medicare Agency, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays, and we're here to help you out. Learn more about our products and services by calling our agency at (631) 358-5793. You can also request a free quote by CLICKING HERE.
0 Comments



Leave a Reply.

    Contact Us

    Local Office: (631) 358-5793
    Toll Free: 1-800-219-0453
    445 Broadhollow Rd Suite 25
    ​Melville, N.Y 11747

    Click Here to Email Us

    Archives

    April 2022
    March 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    July 2020
    April 2020
    September 2019
    January 2019
    December 2018
    May 2018
    January 2018
    December 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017

    Categories

    All
    Annuities
    FAQs
    Final Expense Insurance
    Financial
    Health
    Insurance
    Life Insurance
    Local
    Medicare Advantage Plans
    Medicare Supplement Insurance
    Prescription Drug Plans
    Safety

    RSS Feed

Navigation

Homepage
Insurance Quotes
Policy Service
Insurance Products
Contact Us
Agent Login

Connect With Us

Leave a Review

The Modern Medicare Agency LLC BBB Business Review

Contact Us

The Modern Medicare Agency
445 Broadhollow Rd Suite 25
Local Office: (631) 358-5793
Toll Free: 1-800-219-0453
Click Here to Email Us
Schedule an Appointment

Location

Website by InsuranceSplash