Life insurance is a contract between you and an insurance company. In exchange for premium payments, the insurer provides a lump-sum payment (called a death benefit) to your designated beneficiaries after your death. This benefit can help cover:
Funeral and burial expenses
Outstanding debts (e.g., mortgage, loans)
Ongoing living expenses for dependents
Educational costs for children
Types of Life Insurance
Term Life Insurance
Coverage Period: Set term (e.g., 10, 20, or 30 years)
Benefits: Pays out only if the insured dies during the term
Cost: Generally more affordable than permanent policies
No Refund: If the term ends and the insured is alive, no payout is made
Whole (or Universal) Life Insurance
Coverage Period: Lifetime, as long as premiums are paid
Benefits: Includes both a death benefit and a cash value component
Cash Value: Can accumulate over time and be borrowed against
Cost: Typically higher than term life insurance due to lifetime coverage
Why Choose Guidice Insurance Agency?
At Guidice Insurance Agency, we offer a range of life insurance options tailored to your specific needs and budget. Whether you’re seeking temporary protection or lifelong coverage, our team is here to guide you every step of the way.
Contact us today
Explore the best policy for your family’s financial future.
