Life Insurance in Alabama
When dealing with life insurance within Alabama, you are likely to focus on the duration of your policy and the number of dependents covered. While these are critical, life coverage will often consider numerous aspects, an area that Robinson Bryant Agency can help with. Below, we tackle the policies available to Montgomery, AL residents.
Term Life Insurance
Term life insurance is a policy that lasts for several years. Upon your death, your beneficiaries receive a death benefit, allowing them to take care of everyday expenses. If you outlive this policy, it expires, leaving your beneficiaries without any benefits. This insurance can be converted to a permanent policy, allowing you to get coverage over an extended period.
Whole Life Insurance
This is a permanent cover and lasts until your death. Your beneficiaries receive the death benefit once you die, helping them take care of needs such as final expenses and real estate costs. A whole life policy has a cash value component that builds value over time. Additionally, this policy can be redeemed, making it possible to utilize it for retirement purposes.
Variable Life Insurance
As the name suggests, variable life insurance is a flexible cover that allows you to alter your premiums when urgent needs arise. These could be when you need to take up an extra mortgage and move into a new house or when you move jobs. It is a permanent cover that pays your beneficiaries the death benefits once you pass away.
It also features a cash value component, setting your beneficiaries up for financial stability. The benefits may be used as a trust fund for your dependents or help pay for needs such as childcare costs and tuition expenses.
If you need life insurance within Alabama to help care for your loved ones after you are gone, Robinson Bryant Agency has you covered. Call our Montgomery, AL agents today to help you start your journey.