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Craig W. Schubert
Financial Planner
Business & Financial Strategies, LLC
Providing Insurance & Financial Services
1657 Crofton Blvd, Suite 200
Crofton, MD 21114
Phone: 410-841-0032
Fax: 410-841-0030
September/October 2024
Life Insurance: Consider Your Options
Life insurance* proceeds can provide a financial lifeline for loved ones if something were to happen to you. The type of policy you choose may depend on the length of time you’ll need coverage and the policy’s cost.
Term Insurance
Term insurance provides coverage for a specific period, typically 10 to 30 years, although shorter and longer terms are possible. If you die during the term, the policy pays a death benefit to your beneficiaries. A term policy has no cash value. It is less expensive than permanent insurance and may be a good choice when others depend on your income.Permanent Insurance
Permanent insurance generally remains in effect if you continue to pay the premiums. In addition to the death benefit, the policy builds cash value over time. Permanent insurance is a good option if you want lifetime coverage, access to the policy’s cash value through withdrawals or loans and are comfortable with the higher premiums.Your insurance professional can help you choose the right policy for your circumstances.
*Applications for life insurance are subject to underwriting. No insurance coverage exists unless the required premium is paid to put an issued policy in force. Accessing cash values may reduce the death benefit and policy values, trigger tax consequences, surrender fees, and charges, and may require additional premium payments to maintain the contract. Guarantees are based on the claims-paying ability of the issuer.
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Craig W. Schubert is a Financial Planner with, and offers securities and investment advisory services through LPL Enterprise (LPLE), A Registered Investment Advisor, Member FINRA/SIPC, and an affiliate of LPL Financial.
LPLE and LPL Financial are not affiliated with Business & Financial Strategies, LLC.
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