At LeDoux Insurance Agency, we know that finding the right Oregon life insurance program can get confusing, and even a bit overwhelming at times. From having to weigh the pros and cons of term life insurance versus whole, universal and variable and beyond- it’s easy to get lost amongst the terminology and coverage differences.
Our knowledgeable and professional agents can help you navigate your way through one of the most crucial policy decisions you will ever have to make in your lifetime. Whether you need life insurance in Portland, or coverage anywhere else in the state, we have the expertise to secure you a tailored Oregon life insurance plan you can rely on.
At LeDoux Insurance Agency we can help you determine which Oregon life insurance policy is right for you! Our dedicated team of life insurance experts understands Oregon’s market and regulations and can find the right plan that fit your individual needs.
Term Life Insurance Basics:
- Coverage for a “term” or period of your life.
- Lower premiums for higher coverage.
- Rates can change after specific terms expire.
- No equity – cannot be used as cash value.
Whole Life Insurance Basics:
- Exactly like it says – permanent, not for a specific period.
- Protection carries with you your whole life.
- Can build equity and have cash value. Higher premiums than term life, but can be more valuable in the long run.
- Build lifelong base of whole live coverage.
- Supplement specific times of your life with term insurance.
Term and Whole Life Combined:
When to choose term life?
Most people choosing term life have a strategy for long term net worth. They need specific coverage for a period of their lives to protect debt, loved ones, and children. For a homeowner with children it may make more sense to have a term life policy that covers the mortgage and living requirements until their children are old enough to provide for themselves – in this case the term would expire around the time your children move out.
When to choose whole life?
Whole life can be used in the retirement years as cash assets. It can provide equity for loans and have fixed payments that do not increase with time. Often times whole life policies will pay dividends - although not always.
Give us a call and let one of our expert life insurance specialists get you started on the right path. Contact LeDoux Insurance Agency for more information and get a free Oregon life insurance quote today!