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Which Life Insurance Policy Is The Best?

All right guys, Chad here with Luitwieler Family Insurance Agency, answering your questions. Today’s question is, which life insurance policy is the best?
When it comes to life insurance, there’s actually a lot of options out there and there’s variations of different types of plans. The most popular types of plan is gonna be your term life insurance and your whole life, or sometimes called universal life insurance. If you kind of break it into those two categories, that’ really the two main types.
Basically, it just depends on what you need and what your needs are. How much coverage you need and how much you want your policies to last. There’s a lot of different factors we can help decide what type of policy you need. Some people want a lot of coverage to help pay off a mortgage and they want the most affordable type of insurance. Term life insurance will do that for you. Some people want the benefit of building and saving into their life insurance over a period of time and have the coverage last their entire life. It’s more expensive to do that. There’s a lot more benefits attached to that. It really just depends on each individual person.
There’s occasions as well where we will actually use a combination of both types of insurance. We’re gonna use term insurance to get a lot of coverage for an affordable price and then another amount of permanent, or whole life coverage, universal life coverage just to take advantage of those, the savings account aspect of those policies. Take advantage of those interest rates and the fact that those last an entire life. You can use both of those in one plan and it really just depends on your situation.
If you have questions, let us know. We’re happy to answer any questions you have about life insurance or any other topics you have in mind. Thank you.






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