Individual Life Insurance

Individual Life Insurance
Individual Life Insurance

Our families are important to us. Individual life insurance provides peace of mind for an individual and their family. None of us plan to have an unexpected life event, but we can plan for protection of our assets through individual life insurance.

There are various types of individual life insurance policies. Some of the better known ones are whole life and term life. Term life policies have become more popular in recent years.

 

What are the differences between the two?

Whole Life

  • A whole life individual life policy is sometimes also referred to as a permanent plan. What this means is that the death benefit will be paid whenever you die, no matter what age. For the most part, the death benefit and the premiums are designed to stay the same throughout the life of the individual life policy. Under the category of whole life are also variations within the policies. Along with traditional whole life, some of those variations include universal life and variable universal life.

Term Life

  • A term life policy is normally very straightforward. Usually the premiums are offered at a lower cost and this is a very popular individual life plan for many people today. With a term life policy, it is designed to have a time limit for payment of the death benefit. This is usually offered in 10 – 30 year terms. The death benefit will only be paid if death occurs between the years specified in the individual life policy. But there is also a cash value benefit within this policy. There are however, riders that you can add that will enable you to convert the policy into a whole life individual plan before the end of the term.

Why choose Stream Benefits Group Insurance for your individual life insurance?

Stream Benefits Group will discuss with you what your needs and wants are, and then do a thorough review of the individual life options available to you. We will compare policy cost and coverage to help you decide on the best option for yourself and your family, leaving nothing to chance for those you love most.

Call us today for a no-cost no-obligation informational meeting. Our offices are located in the Kirkwood St. Louis area. We work with many top-rated carriers to offer you the best individual life policies available today.