12159 S Pulaski Rd
Alsip, IL 60803
It’s an unfortunate reality of life but people die sooner rather than later. It’s important to protect the people you love and a life insurance policy in Chicago, IL can do that. Life insurance is a selfless decision and you are looking out for your loved ones to protect them financially.
There are different types of life insurance policies in Chicago, IL. Some policies have cash benefits that are available to you while you are living. With these policies, a portion goes into a cash reserve, which then builds on a tax-deferred basis. Some people use this to help with their retirement cash flow or education costs. If you aren’t sure what kind of policy is the best fit for you then an agent at Zeiler Insurance Services Inc can help.
Term life insurance is the simplest to understand. You pay the premium for a certain term and if you die during that period, the insurance is paid to your beneficiary. It doesn’t build any cash value and usually has lower premiums. If you are still alive at the end of the term then the policy is ended, unless you chose to renew the policy. It will usually renew at a higher rate since you would be older.
Permanent life insurance will stay in effect your whole life, as long as you keep paying the premiums. There are different types. Whole life insurance also has a cash component. The cash value can grow and interest is also credited to the cash value. The interest growth is tax-deferred, which means you don’t pay taxes on the growth. Universal life insurance is also designed to provide lifetime protection. However, universal life doesn’t have the same guarantees as a whole life policy. If you don’t intend to keep a permanent life insurance policy for your entire life, then this type of policy can be the wrong type of insurance for you.
Contact Zeiler Insurance Services Inc to get a quote on life insurance.