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Life Insurance

Life Insurance

Whether you are just starting out or already established in your adult routine, life insurance can offer a great safety net for when you are no longer around to help your family. Many people don't realize that a certain kind of insurance, called whole life, is also an excellent gift for everyone from babies to college graduates. At Life insurance Garlow Insurance Agency Inc., we work with our Virginia clients to see what they need and help them find the kind of insurance that will give them peace of mind.

Whole Life Insurance

There are several great things about whole life insurance, the first being that you can lock in a low premium for a young policyholder. The price will never go up, but the money paid into the policy is also growing. The policyholder can borrow or even withdraw money from the policy as needed, depending on the terms.

The whole life policies also have the death benefit most people associate with the more traditional life insurance, so your loved ones will be taken care of if you die.

Term Life Insurance

The most significant advantage of term life insurance is the price. Term life insurance costs less and, like the name suggests, lasts for a certain period, or term. Instead of having a cash value, term life insurance only has a death benefit.

If the person who owns the policy doesn't die during the term, the policy will expire along with any benefits. The important thing when choosing a term life policy is making sure you get the right coverage depending on your point in life and how much your loved ones will need to settle your estate.

It can seem confusing when looking at the different kinds of life insurance you can get in Virginia. At Garlow Insurance Agency Inc., we can offer quick quotes for a life policy, or sit down with you to discuss your personal needs. Call today if you have any questions!