If you’re the primary breadwinner for your Littleton, CO area family, chances are you worry about what could happen to them when you pass away. A life insurance policy offers a financial safety net for your family to fall back on during those tough times. Front Range Insurance Services can help you choose between a whole life and term life insurance policy.

What Whole Life Insurance Offers

Whole life insurance provides lifelong coverage in case the unthinkable happens. Since the policy remains in effect throughout your entire life, this ensures that your named beneficiaries will receive their benefits no matter when you pass on. In addition to paying out upon death, a whole life insurance policy also accumulates cash value that can be borrowed against or withdrawn throughout the life of the policy. Whole life insurance plans typically carry a higher initial cost, but those costs will decrease the longer your policy is in force.

What Term Life Insurance Offers

While a typical whole life insurance policy covers you for your entire life, a term life insurance policy only covers you for a specific period of time. You can choose how long the coverage lasts, from a 1-year term to a 30-year term, in most cases. Term life insurance policies also lack the ability to accumulate cash value and only pay out death benefits if you pass away during the term. Term life insurance policies offer an affordable option for first-time life insurance buyers. When you’re ready to step up to a whole life policy, you can have your existing term life policy converted.

The agents at Front Range Insurance Services can help you choose the life insurance solution that best fits you and your family’s needs. We proudly offer our services throughout the Littleton, CO area, so contact us today to receive a quote.