Life Insurance
Life Insurance
BPA has a long history of guiding both businesses & individuals through the process of selecting life insurance coverage.
While our agency could recommend financial planners & councilors and we are pleased to do so we deal exclusively with the guarantees life insurance offers. For business, life insurance guarantees are important for buy/sell agreements & key person insurance. For individuals concerned about family security, we can assist in determining how much insurance is enough to provide peace of mind for both parents. When properly arranged life insurance can keep your family in their world even after a parent’s death.
Our agency accesses the insurance marketplace to find the right coverage at the best price. We are eager to discuss this important topic and shop for you.
Term Life is the most common type of Life Insurance policy. You select an amount of coverage, the term or length of coverage (typically 10, 15, or 20 years), and name a beneficiary who is to receive the benefit if you die. Premiums for Term Life policies are generally lower than other types because they only provide coverage for a specified amount of time.
Whole Life policies are exactly that – they provide coverage from the date they are taken out, until the day you die for a fixed premium amount. This type of policy builds cash value as you pay into it – similar to building up equity in your home. Most policies will let you borrow money from this accrued value.
Universal Life is similar to Whole Life, but generally offers more flexibility on your payment, the amount of the death benefit, and savings options.