Which Life Insurance do you need?


THAT IS THE QUESTION MANY PEOPLE ASK. Please, let's take a minute to understand the difference.


 This is coverage that lasts for a period of time. For example: you may get a 10, 20, or 30 year term. After that period of time, your cost rises very significantly and it is not wise to keep. A level term means the premiums stay the same for that time period. Your cost does not go up. At the end of the term, you have no cash value. It is just over. This is excellent when you are young and you have a family. It is the most cost effective and if you don't smoke, term life costs very little for the peace of mind it gives. Just like any other insurance, you can add additional riders that vary from company to company. You may also use this for mortgage protection if you wanted to be sure your home would be paid off.


This is considered PERMANENT coverage. It also builds up cash value. You may either borrow from the cash value, pay up your premiums to a certain age, or receive dividends from it. This is very good coverage and is used quite a bit for burial expense insurance. If purchased while young, it can build up some good cash value.


A favorite with a lot of people. This also is considered PERMANENT coverage. It can guarantee to run as long as to age 120. Universal life can be custom made to fit your needs. This also builds up cash value. You may also borrow from your cash value or simply add it to your death benefit. This is used quite often as an answer to your pension and life insurance situations at the time of retirement.


When planning for your future or supplementing your present coverage or when planning for retirement, we suggest you sit down and consider what you now have and what you foresee your needs to be. It is different in everyone's situation.

Union Benefit Services is proud to work with a variety of A rated companies and we have the ability to meet most everyone's needs. Because of health issues or smoking sometimes it is difficult to find the proper coverage.

If you are interested in finding out more information or get a quote or just want to sit down with someone to help you with this, please fill out the short form below and submit it to us. Or, you can call us at any time.