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Matching your Michigan Life Insurance to Your Needs!

By July 31, 2012April 14th, 2022No Comments

There are many types of life insurance policies servicing a range of different needs for the policyholder. However, they usually break down into two classes: term-life insurance and whole-life insurance. Understanding the difference between the two may help you obtain the sort of package that suits your purposes. This may be helpful not only in covering your dependents’ financial wants and needs, but also helps you match the right policy to suit your current situation.

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At Ron Jackson Insurance Agency, we want to explain the options we have available for your family. Term insurance may be the sort of plan you may think about if you want to purchase life insurance for specific purposes and are looking to save money. Term, as the name suggests, will give the policyholder coverage for an agreed period of time and will expire when this ends. The policy does not accumulate cash over time. However, its stripped back nature may make it suitable for those on a limited budget who may not be able to otherwise afford coverage.

Term insurance contrasts with whole-life, which is not limited to any length of time and may accumulate cash value. It is important to understand the type of policy that you wish to take out before you decide on a policy for Michigan life insurance. Do you require more information? Call one of our agents for more details on the subject!

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