Life Insurance Services
If you have a family or anyone else who is dependent on you, the best thing you can do is purchase life insurance.
Life insurance protects anyone who is dependent on you financially should anything happen to you in the future. It gives you peace of mind knowing that your loved ones will be cared for, and it gives your loved ones peace of mind, too.
If you are interested in getting life insurance, you have come to the right place! The McKay Financial Group offer exceptional life insurance services in Savannah, GA and have helped countless people secure their future for more than 30 years.
There are several different types of life insurance coverage options, and having an understanding of each type will allow you to choose the policy that best suits your needs.
Types of Life Insurance Policies
- Whole Life. A whole life insurance plan will provide you with guaranteed insurance protection for your entire life. It is also known as permanent coverage. These policies carry a ‘cash value’ aspect, which continues to grow as long as you are covered. The premiums are typically level for the life of the insured, and the death benefit is guaranteed for the lifetime of the insured.
- Universal Life. Also known as flexible premium or adjustable life, this type of life insurance is a variation of whole life coverage. Similar to whole life, it provides permanent coverage; however, the cash values, premiums and amount of protection can be modified.
- Term Life. This is one of the most commonly used life insurance policies. Term life insurance helps protect beneficiaries against financial losses that result from death, paying the face amount of the policy; however, it only provides protection for a specific period of time. For example, you may be covered for 30 years, but if you live longer than those 30 years, your policy will not pay out to beneficiaries in the event of your passing.