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What Type Of Life Insurance Is the Best?

You have car insurance for your car and homeowners’ insurance for your house. What about your life? Have you protected yourself? It only makes sense to get life insurance to take care of your life and that of your loved ones. 

Are you wondering how to go about life insurance in Chicago, IL? Arial Insurance Group is ready to give a helping hand by providing you with everything you need to know.

Why Do You Need Life Insurance?

Life insurance is a long-term financial plan that everyone needs to pay close attention to. 

Imagine what would happen if you’re the caregiver in your family and suddenly you die? How would life be like for the family members left behind? Would your children continue getting the same quality of life as when you were alive?

These are pertinent issues that need to cross your mind as you evaluate the advantages of purchasing life insurance. 

Life insurance will support your loved ones financially after you’re gone— this is the single most important reason you need to buy life insurance. But what type of life insurance do you need? Let’s look at a few coverages.

  • Term life insurance: This is the most common type of life insurance. It pays the people you choose as beneficiaries a fixed amount of money if you die. However, the money is only available if you die in the course of the term. 
  • Permanent life insurance: This coverage tries to hit two birds with one stone. Offer your beneficiaries income and be a savings account at the same time. As a saving account, this policy is called cash value. It means that you deposit money regularly and can access it as you wish. Unlike term life insurance, it doesn’t expire. 
  • Whole life insurance: This coverage is still meant to pay your beneficiaries after you die, but it has a cash value element. A percentage of your premiums will count as cash value. 

Other life insurance policies include universal life insurance, variable universal life insurance, and joint life insurance. 

Protect Your Loved Ones with Life Insurance

If you’re yet to buy life insurance, then the right time to do it is now! For residents of Chicago, IL, Arial Insurance Group is ready to help you choose the right life insurance coverage. Contact us today for more information.

What are the benefits of getting life insurance?

Those that live in Chicago, IL, and the surrounding communities should seriously consider their life insurance needs. This is a unique form of insurance that offers a variety of benefits that are unmatched by other forms of insurance. Understanding these benefits will help someone determine if getting life insurance is a good option for their situation.

Insurance Offers Financial Protection

One of the main advantages of getting a life insurance policy is that it can offer financial protection to those that depend on you. For those that have dependents, life insurance will give protection in the event they were to pass away unexpectedly. Policyholders can build their policy to ensure it covers all anticipated future expenses that their dependants may need to have covered. Even those that do not have dependants could still benefit from getting a life insurance policy as it can help to cover end of life costs for family members.

Insurance Can be an Investment

Another unique advantage of a life insurance policy is that it can also be an excellent investment. When shopping for life insurance, there are many different options to consider. One option to consider is a whole life insurance policy. When you get a whole life insurance policy, a portion of your premium payments will go into an account that will accrue in value with interest growth. This can make it a conservative investment while also provide other life insurance coverage.

Those that are in the Chicago, IL area, and looking for life insurance should reach out to the Arial Insurance Group. The insurance team at the Arial Insurance Group understands the complexities that come with picking an insurance policy. We can answer any questions you have and ensure you receive proper coverage. 

Partner Carriers

  • Aegis
  • American Modern
  • American Strategic Insurance(ASI)
  • Assurant Flood Solutions
  • Berkshire Hathaway Guard
  • Capital Premium Financing
  • Cigna
  • Dovetail
  • Foremost
  • Grange
  • Hagerty
  • Humana
  • Kansas City Life Insurance Company
  • Met Life and Health
  • National General
  • Nationwide
  • Old American Life
  • Openly
  • Progressive
  • RLI Surety
  • State Auto
  • Stillwater
  • Travelers
  • United Healthcare