3 Great Life Insurance Policies For Couples Who Want To Start A Family!

Having a family is a blessing and we all want to provide what is best for our spouse.  If you have just married, you should be aware of the many responsibilities to come. It is never too late to start searching for life insurance quotes for family.

familyinsuranceHere is a list with 3 great life insurance policies for couples who want to start a family:

1)     Term life insurance.

Term life insurance is excellent in providing protection for a family while the children are small and depend on their parents. Taking a 20 or 30 years term life insurance will ensure protection for your kids, in case that something wrong happens to you.  Term life has the cheapest premiums and everyone can afford it.

2)     Whole life insurance.

Whole life insurance is more complex than term life, but provides more benefits. You will gain permanent protection and you will not have to worry about renegotiating the terms of the policy. Whole life policies keep the premiums locked at the same value.  People usually opt for whole life because they want to leave a great wealth for their children to inherit.  The maximum amount of coverage is significantly higher than any of the other policies. In time you can save several hundreds of thousands of dollars, or even several millions. This will make sure that your dependents will have everything they need. You can consider whole life insurance a tax-deferred heirloom.

3)     Universal life insurance.

This policy combines the flexibility provided by term life with the tax-free money provided by whole life. It also adds an investment part. The insurance company will invest a part of the premiums in mutual funds or bonds in the stock market. There is the possibility to gain more money through smart investments. Again, this policy is permanent and it can be used as an heirloom.

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