Types of Life Insurance Available

If you’re shopping for foresters life insurance you may have noticed the variety of plans available. Each of these plans has been designed for different needs and it may be confusing to find the right one for your needs. Here is a little bit about each plan type. Issue Life Plans Issue life plans don’t usually require a medical exam to apply. There are usually several plans to choose from based on age and plan face value. Because there is no required medical exam, premiums may be higher than other options. Whole Life Plans Whole life plans are designed to provide coverage from the insured’s enrollment date through the end of their life. Regular premiums are paid up to a maturity date after which the cash value of the policy may be paid to the insured if still living. Usually a maturity date is set around 95 to 100 years. Term Life Plans Term life plans are designed to provide coverage for a set amount of years usually between 10 – 30. They usually provide the highest insurance amount based on premium dollar, however premiums may increase over time. Consider your needs when choosing your foresters life insurance plan. Your life expectancy and the amount you want your beneficiaries to receive may make a difference when deciding between a whole life or term plan. Remember, the experts are there to help if you have any questions.