Life insurance can be an uncomfortable topic, but it’s an important part of any financial plan, and gaining understanding of its role sooner rather than later can be beneficial. In a recent guest article for Sedona Red Rock News, Financial Planner Bill Kelso explored life insurance options and gave an overview of policies.
Bill shared the differences between term life insurance and permanent life insurance. He explained how term life insurance has a time-limited policy. If you pass away during the policy timeframe, your successors will receive a death benefit. On the other hand, permanent life insurance doesn’t expire when properly funded and can be less expensive. Bill highlighted the benefits of each and explained how a financial planner can help you understand the intricacies and choose the best life insurance policy to fit your situation and future goals.