Life Insurance is often overlooked or underestimated due to a lack of long term planning. Life Insurance plans differ in type and scope. At Daryl Lofton Insurance Agency, we cut through the confusion to custom tailor a plan just right for you and your family. The most popular types of Life Insurance are:
Term policies are a low cost way of death protection that lasts for a fixed period of years and in which you only pay the cost of the insurance (Like renting a house. You pay a fixed amount of rent every month for a specific period of time and move on at the end of your lease). Term life insurance is the easiest to obtain and the most affordable life policy on the market today. Term, as the name implies, is only effective for a specified amount of time-5, 10, 20, or 30 year intervals being the most common. It is a popular policy and can secure large amounts of coverage for relatively low premiums.
Term Life insurance can also provide a benefit that can be used to pay off a home in case of death of a primary provider, allowing the family to have an additional peace of mind.
Term policies can help meet a wide variety of business and personal needs and often provide the most coverage for your premium dollar for set periods of time. Whether you want to supplement your existing coverage or simply purchase insurance to meet a specific need, our term policies have the flexibility to help meet your needs. The Daryl Lofton Insurance Agency can help meet the needs of people who desire long-term death benefit protection with a flexible premium structure.
Permanent or Perm insurance carries a higher cost per month, but is designed to last an entire lifetime and it builds cash value. The policy builds equity that compounds interest over many years to cover the cost of life insurance in your older years. The cash value in a Permanent plan can be borrowed against to receive a portion of the cash value that you have built up. (Like buying a house. You build equity over many years and keep it until death to pass to your heirs or sell it to receive the cash value).
Life insurance can be an important part of your personal safety net, especially if you have loved ones and financial dependents. Daryl Lofton Insurance Agency can work with you to find easy and affordable life insurance solutions so you know your loved ones and financial dependents will be well taken care of. To learn more, click on the ” Get a Quote” section on our life insurance page and see for yourself how life insurance can help you plan for life.
An important part of a sound financial plan, life insurance provides a valuable death benefit to your beneficiaries upon your death. Your beneficiaries can then use this money to replace some of the income you would have earned or to help pay off debts or other expenses.
Life insurance is a way to help restore or maintain your family’s financial security if you pass away. There are many types of life insurance policies, and choosing the one that’s right for you will depend on the “what ifs” in your life and your personal circumstances.
Get a quote
The Daryl Lofton Insurance Agency
7195 Swinnea Road, Suite B,
Southaven, MS 38671