Thompson Insurance is your Life Insurance Agent of Conwayalt

Are you a Coastal South Carolina or Conway Resident looking for Life Insurance?

Life Insurance is designed to provide money to help replace the loss of a person. Life insurance solves many problems as it can pay off debts, (credit cards, vehicles, home or business), or provide money to replace income. Life insurance can also be used to provide an inheritance or leave a gift to a Charity. This is available both to the individual and business or group plans.

There are three main type of life insurance policies-- For Term, Universal Life or Whole Life Insurance Policies, call your hometown agent of Conway, Thompson Insurance Agency. 

Term:   Provides the most coverage for the premium. It is good when the risk is only for a fixed or certain period of time such as a debt. This is the coverage most need to look to first. The disadvantage is over time the premiums increase to the point most people drop the coverage.

Universal Life:  These are called Flexible Premium or Adjustable Premium by come companies. They are in very simple words a term policy with a cash account design to provide life insurance coverage long term for the lowest long term price. If designed properly they will last a life time and premiums never increase. The flexible premium gives flexibility no other life product has.

Whole Life:  In its pure sense it is the most secure life insurance type if you want to be sure it is in place when you die regardless of how many years that might be. The premium is fully guaranteed as is the death benefit. It is also the most expensive.

Which is best for you? It really varies, no two situations are the same and this is a major reason to talk with a professional insurance agent, like the agents of Thomson Insurance Agency in Conway, South Carolina.

There is also a “Survivor Policy” or as more common term “Second to Die” which insurances two people (such as husband and wife) and only pay when the “second” person passes away. Normally the premiums are low compared to the face amount. These plans can be good options for such as estate taxes, providing an inheritance, leaving to a Charity. Any time you need to or just desire to leave money when a couple passes away are a great option.

Thompson Insurance Agency of Conway can help you find the best coverage!

Thompson Insurance of Conway Knows Disability Insurance

This is designed to replace your income lost due to sickness or accident which prevents your working. This is available both to the individual and business or group plans.  Disability insurance is very important but complicated. You deal with “waiting or exclusion period”, “benefit periods” and “benefit amounts”.  Each of these affect the premium and do so greatly.

 

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