Life Insurance in Indiana

Life insurance is vital for anyone who has a family who depends on them. It's essential to have to pay for your final expenses and help ease the economic burden on family members. If you need life insurance, give us a call at IAL Insurance in Indianapolis, IN.

There are two main types of life insurance- term and whole life. Which one you choose comes down to your needs and budget.

Term Life Insurance

When you choose term life insurance, this works within a specific term of time. The term is set up when you first get the policy. It is usually a set number of years, such as 10 or 20. The policy stays good during that term. Once it ends, the policy will expire. Once this happens, there is no more policy, and you will have to apply for a new life insurance policy if you want to be covered again. Many people choose a term life policy because it tends to be low-cost. This type of insurance is less expensive than whole-life policies.

Whole Life Insurance

A whole life policy works in a very different way. Once you get this policy into place and keep paying for it, it can't be canceled and is suitable for the rest of your life. These policies cost more, but they also benefit from a cash value that builds up over time. This cash value starts to build after a few years, and it's something that you can then borrow against. This can make a big difference if you ever have a financial emergency in the future. The cash value and the longevity of the policy have made whole-life policies highly popular.

Get Your Life Insurance

If you need life insurance, we're here to help. Call us at IAL Insurance in Indianapolis, IN to find out more.