Term Life Insurance
Term Life insurance is the most affordable way to buy family protection for specific terms from 10 to 30 years, especially for younger parents who would like to provide financial protection while their children are dependents and still in school. Younger applicants can buy substantial insurance at relatively low premiums.
As life progresses, policy holders may convert part or all of this term protection into a permanent policy.
Permanent Life Insurance
Permanent Life insurance is intended to last for longer periods of time. Like term coverage, it provides protection for children until they are out of school. In addition, permanent coverage aims to provide protection for spouse for a lifetime.
“Legacy Life” Insurance – offered by Bob Hopper Insurance Services
While most plan to leave their estate to their children, some people would like to leave additional assets, such as money, to grandchildren, nieces, nephews, or even a charity.
At Bob Hopper Insurance Services we’ve developed a concept called, “Legacy Life” insurance that uses the structure of a Guaranteed Universal Life insurance plan as the affordable tool to help our clients leave their legacy as they wish. Because there is no cash value build up in this type of policy, the premiums are substantially lower than traditional permanent life policies, making it affordable for people in their 50’s, 60’s and even 70’s to budget a modest amount of premium to provide a substantial legacy to loved ones.