Whether you want to help pay off your mortgage if you’re not there or provide funds for your children’s education, our goal is to help you develop a Life insurance program that does what you want it to do while staying within your budget. Dyrland Insurance will sit down with you and develop a Life insurance program that meets your goals.
Term life insurance provides you with coverage for a specific period of time. It pays a benefit only if you die during that term. Some term insurance policies can be renewed at the end of the period. Premium rates may increase at each renewal date. Because term insurance premiums are generally lower than permanent insurance premiums, you can usually afford a higher level of coverage. Term insurance is good for responsibilities that will diminish or end over time, for instance, mortgages or car loans.
Permanent life insurance is designed to be a lifelong policy and is known by a variety of names. As long as you pay the necessary premiums, the death benefit will always be there. These policies are designed and priced for you to keep over a long period of time.
In addition, permanent life insurance policies can build cash value over time. This is money that can be borrowed against and, in some cases, withdrawn to help meet future goals. Please note that assessing your cash value may reduce the death benefit and increase the risk of lapse.