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Life Insurance Plans Des Moines, Iowa

By paying a monthly or an annual premium, depending on the plan you choose, you can ensure your beneficiaries have financial coverage after you pass. 

How much money you pay into the plan and how long your plan lasts depends on your individual needs and what your plans are for the future. Choosing a life insurance plan that works for you and your financial situation can lend you peace of mind knowing that your loved ones will be taken care of after you’re gone. 

Benefits of a Life Insurance Plan

Investing in a life insurance plan can help ease the financial burden your loved ones may face when you pass. Not only will they have the means to pay for funeral and burial expenses, but, depending on the plan you choose, they may also be able to cover any remaining debts you have, put money towards your children’s college funds if needed, or give to a charity of your choice. 

There are a number of life insurance plans you can choose from, and one of our agents at Fortress Insurance Services would be glad to talk you through which one might best fit your goals for the future. 

Term Life Insurance

Term life insurance provides coverage for a set period of time, such as 10, 15, or 20 years, and generally has a less expensive premium. Cash value growth is not available in term life insurance, and you get to choose how premiums are paid (monthly, quarterly, annually). Death benefits are tax free.

Term life insurance is often the simplest form of life insurance to understand and the cheapest to get started with. It’s a good option if you’re working on growing a family. 

Universal Life

As long as premiums are paid, universal life insurance will cover you for the duration of your life, with the payout going to your beneficiaries tax-free after your death. Some policies may allow you to build cash value as you go, meaning you can access a portion of your cash value without affecting your death benefit.

There are a number of universal life policies you can choose from, including guaranteed, indexed, and variable. Which one you choose depends on what your goals are for the future, whether you want to build cash value, and your financial capability to pay into your policy. 

Universal Life insurance policies are a great option for those looking for long-term savings opportunities, or if you’re needing to fund dependents after you’re gone. 

Guaranteed Issue

You could also call this guaranteed acceptance life insurance. This is a policy that offers anyone a life insurance plan, no matter their health status. The coverage amount usually ranges between $10,000 and $25,000, making it a good option if you’re only looking for final expense coverage. The price for guaranteed issue policies is higher than others, and unless you pass away from an accident, your beneficiaries generally won’t receive the full payout if you pass away within the first two or three years of signing up for the policy.

Guaranteed issues policies are good for individuals with health conditions or age that make other life insurance policies impossible. 

Whole Life 

As the name suggests, whole life insurance covers you for the duration of your life. A few benefits to whole life insurance include the ability to build cash value that you can draw from while you are still living, like a savings account. Another benefit is that you only pay premiums up until a certain age, but you’re guaranteed coverage for life. While you’ll likely find a better interest rate in a different type of life insurance policy, this is a low-risk option.

There are several whole life insurance options, depending on the amount of coverage you need and what you can afford. This is a good option for high earners or those looking for another long-term savings option.