Life Insurance

Most people don't like thinking about death. It signifies the end, and most people are scared of that. However, knowing that your loved ones will not struggle financially once you are gone will give you peace of mind. That is why it is necessary to buy a life insurance policy. It is an investment that comes with several benefits for you and your loved ones. At Teagle Insurance Agency Inc., we understand your family comes first. To help you decide, keep reading to understand the different types of life insurance in Virginia.

Term Life insurance

Term life insurance is a policy designed to offer you coverage for a specific period. When you buy this coverage, you have to tailor it to meet your needs. For instance, you choose the coverage amount, the term length, and other factors that meet your needs. If you pass away within that term, your loved ones receive the death benefits.

Whole Life Insurance

This is a policy designed to last you your life, unlike term life insurance. After you pass away, your loved ones receive the death benefit. It features a cash value component that you can use when still alive. Most people choose this coverage if they would like to use the accumulated cash value after retirement.

Universal Life Insurance

This is also a permanent type of life insurance, accompanied by a cash value component that allows you to borrow cash against it. This policy differs from whole life insurance, whereby you can adjust your premium payments if your financial position changes. So, for instance, if you start paying the mortgage, you can reduce your premiums to a certain amount so as not to feel strained.

Before you buy life insurance in Virginia, it is vital to access your financial position first. Here at Teagle Insurance Agency Inc., we want to make that decision easy for you. Drop by our office, and we will help you pick a life insurance policy that meets your needs.