Term life insurance is one of the most recognizable types of life insurance, but it only provides a death benefit if your clients die during the coverage period. We at Lowdermilk & Associates have partnered with Midland National to offer Permanent life insurance, which may be a better solution.
There are two main types of life insurance on the market today – term and permanent life insurance. Term life insurance is one of the most recognizable types of insurance. It provides short-term coverage at an affordable price. It also gives the flexibility of varying policy lengths and provides a death benefit if you die during the coverage period. Although there is definitely a need for term life insurance, it does not build up any cash value, and as indicated in the charts below, the increase in life expectancy provides you with a good chance of outliving the duration of your term policy.
The benefits of permanent life insurance
Permanent life insurance offers death-benefit protection for your entire life, no matter when you die, as long as the policy is in effect.*
Permanent life insurance offers opportunities for cash value accumulation, which may be utilized for personal or business needs while you are living.
Submit a request using the form on the right side of this page to request more information.