Life Insurance in Iowa
Life insurance offers peace of mind to those who purchase it. It means that they are providing for the people that depend on them. This can be a spouse or partner, dependent children, or aging parents. At the Aussie Agencies of Knoxville, IA, we care about the future welfare of our clients and their families. We offer different types of policies that satisfy the needs you have at different stages in your life.
Term life is precisely what it sounds like, life insurance that is offered at a fixed premium for a set number of years. It can take up to about 30 years or as few as one year. Some policies are renewable or offer the option to be converted to whole life. It is the most affordable life insurance, but when it ends, there is usually no cash value. The policy pays face value if the owner dies during the term of the policy.
Whole life is a type of life insurance that remains in effect throughout your life. It does not have a term. It also accumulates cash value, which can make it a valuable asset as you grow older. It is more expensive than term life insurance, which means you may not be able to afford as much face value, but it provides a way to save when savings might otherwise be difficult.
Universal life is similar to whole life in that it can accumulate cash value and is permanent, but it is more flexible in how it is paid and the amount of the benefit. It is lower in cost than whole life, so it is an attractive alternative as a potential place to save. Owners can opt to pay more than the premium, and that goes into the savings account.
Life insurance is vital for residents of Iowa and everywhere. At Aussie Agencies of Knoxville, IA, our team is ready to offer you the help that you need to choose the life insurance that is right for you. Stop by our office or give us a call today.