Life insurance is a way to protect your family in the event of your death. Without your income, how can your family survive? There are all sorts of different life insurance options, allowing you to choose the one that works best for your situation in Fords, NJ.

You’ll quickly find that there are a few main types of life insurance. At Five Star Insurance Agency, we recommend reviewing all of your options first.

Term life insurance is the most common and the most affordable. However, it is valid for a specific term, such as 20 years. When those 20 years are up, you no longer have coverage. It can be a great way to get you to where you and your family are financially stable. You may also have the opportunity to renew the policy for more money at the end of the term.

Whole life insurance is another option. This policy would last your entire life, ensuring that it will always provide a death benefit to your family. While whole life can be more expensive, it can also provide you with a cash-out option that will help you with your retirement years later on.

Finally, there is universal life insurance. Similar to whole life, it is valid for your entire life. What sets this insurance policy apart is that you can pay as a lump sum or have fixed premiums. Additionally, it will establish a cash value that can vary because of being tied to industry rates. It offers you an interest rate based on market value, giving you a little bit of flexibility.

Start learning more about life insurance by contacting Five Star Insurance Agency today. One of our independent insurance agents can answer your questions and help to find the policy that works for you and your budget in Fords, NJ.