Life insurance is the best way to plan for the unexpected
Life insurance is all about planning for the unexpected and taking care of your loved ones when you no longer can. You can contact Stoneman Schopf for best value life insurance in Algoma, Door County, Egg Harbor, Fish Creek, Sister Bay or Sturgeon Bay, WI. Nobody likes to think about death or disability but unfortunately one of them is a certainty and it is better to plan and prepare now than later.
You have some option and choices when it comes to life insurance. If you want cover for a set period then term life is a good option. Term life will cover your for a certain number of years and will pay your beneficiaries in the event of your death in that time period. Your loved ones will then receive financial compensation by way of a lump sum, annuities or some combination. If you have a disability clause then you will receive compensation in the event that you become disabled during the currency of your policy. Term life insurane is especially suitable for young people and families just starting out. It is an affordable and sensible way to plan for the unexpected.
You can also get whole life insurance and that will cover for as long as you maintain your policy. You can also attach a savings component to your whole life insurance. This will mean you will pay a slightly higher premium and part of that will go towards your savings. In this way your policy will accrue a cash value over time. This cash value gets larger the longer the policy remains active. In addition you also have the option to borrow against the cash value or to even surrender your policy and receive a cash pay-out. The latter is not a recommended course of action but it is available.
The experts at Stoneman Schopf will further advise you regarding the pros and cons of the various life insurance options, be it term life or some type of endowment policy.