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Find the right life insurance policy!

The road of life is full of sudden twists and turns. That’s why Calvert Pearson offers a multitude of life insurance policies designed to protect you from unplanned risks that would typically result in a large financial burden. Talking with one of our agents can help you decide which type of life insurance is best to reach your financial goals.

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Term Life Insurance

Term life insurance is a type of life insurance that provides coverage for a specific period, typically ranging from 10 to 30 years. If the insured person dies during this term, a death benefit is paid to their beneficiaries, but there is no payout if the term expires without a claim. Most commonly those that purchase term life ask the following questions:

  • Want to assist loved ones with paying funeral costs?
  • Have mortgage or credit card debt that would burden others?
  • Worry about leaving unpaid bills, such as medical expenses?
  • Have household expenses that others would have to pay?
  • Worry that you have no life insurance whatsoever?

If you answered yes to any of these questions, then a term life insurance policy may be the answer for you. When you buy term insurance, you get to choose how long you need it and how much coverage you want.

Whole Life

Whole life insurance, sometimes called permanent life insurance, provides coverage for your entire lifetime. That means your family and beneficiaries are covered for the duration of your life.

Whole life insurance accumulates cash value, too, providing you the option of borrowing against it. It’s a financially smart way to help protect yourself and your loved ones. You can even buy a separate policy for children, so they have coverage for their entire lives.

Universal Life

Universal Life Insurance is protection that offers payment flexibility and the ability to adjust the coverage amount over time. It offers low-cost protection like term life insurance and a savings element like whole life insurance.  It can help your family financially with immediate cash for funeral expenses or can be used in other ways, such as business situations, to create a charitable gift, or to help generate an inheritance.

Universal life insurance is ideal for:

  • Income replacement
  • Estate planning
  • College expense planning
  • Inheritance or wealth transfer
  • Charitable giving
  • Paying off mortgage or debt
  • Deferred compensation
  • Retirement income planning
  • Business continuation coverage
  • Key person coverage (for the sudden loss of a key executive or employee)