330-654-5894

Boring Insurance Services

  • Insurance Services
  • Contact
  • Shop Now
  • About Chris & Cathy
  • Recent News & Updates
You are here: Home / Insurance Services / Life Insurance

Life Insurance

shutterstock_15990976

Life insurance provides the knowledge and peace of mind that you will be able to secure the financial future of your loved ones. Life insurance premium amounts vary depending on many factors including your age, gender, medical history, the dollar amount purchased, and the type of insurance applied for. The two primary categories of policies that people compare are Term and Permanent.

Term life insurance is typically the most affordable – especially for young people. It offers protection for a specific period of time, usually, 10, 15, 20, or 30 years but is also available from one year at a time to up to a 40-year term. It is considered temporary coverage and is a great way to cover temporary needs like a mortgage and raising a family. Being temporary, if you stop paying premiums, the insurance ends. These policies benefit you if you die during the period covered by the policy but they do not build cash value.

If the insured person still wants coverage after a term policy expires, they will need to apply for a new policy. The premium for this will be more expensive because they are now older. If the individual has been diagnosed with various health conditions, they may be deemed as uninsurable and may not be able to obtain future coverage.

Permanent life insurance does not have a set date to expire and if set up properly and premiums are paid, it will last a person’s entire life. These plans are usually intended to cover long-term needs. They are often used in estate planning, charitable giving, leaving a legacy to grandchildren, protecting your assets from long-term care expenses, business uses, and many other planning options. This type of insurance is great for children because it’s not much more than term insurance yet can last a child’s entire lifetime and build a cash value.

There are several types and variations of permanent life insurance including whole life, universal and variable. Each one has its own strengths and considerations. We recommend you talk to an experienced insurance professional who represents many different insurance companies and not just one or two companies. This way you get more choices on benefits as well as lower premiums.

How much life insurance do I need?   We get this question a lot and it is always the same answer, “It depends”. It depends on your income, debt, family size, what you want it for and many other factors. As a general rule of thumb most people get ten to fifteen times their annual income.

If you are later in years and you have small financial obligations then $15,000 – $20,000 may be all you need. We have many different plans and companies to choose from so we can customize a plan to meet your individual needs.

We hope this information helps you. If you are ready to get the process started, contact Chris. I work with the top life insurance companies in the industry and can get you all the information you need. We can do this via email if you prefer or by a face-to-face appointment. While appointments are more time-consuming, they are free and our clients will tell you that they always learn more and feel better about their decisions than trying to do it over the phone or computer.

For more information, please call or fill out a contact form here.

 

Call Today 330-654-5894

Questions about insurance, Medicare, or retirement planning? Reach out today and let me assist you with these important decisions. It is my pleasure to help and guide you towards your best options. We can meet at your home, one of my offices, or work over the phone
Contact me

Insurance Services

  • Medicare Plans
  • Life Insurance
  • Annuities

Office Location

250 W. Main St. Suite 208
Ravenna, Ohio 44266
Phone: +1 330-654-5894

Chris cell:  +1 330-774-1341
Chris email: cboring@neo.rr.com
Cathy email:  cathboring@gmail.com

Office is across the street and just East of Chase Bank

Call today for a free consultation

  • CALL now and get
    a 5-minute explanation of the difference between Supplements and Advantage Plans
  • Get questions answered for free
  • Schedule a free one-on-one meeting and get all your answers

mmWelcome! I have been in the retirement income planning and insurance business for over 30 years. I am a Chartered Financial Consultant and insurance broker. Read More…

  • Email

Notice:

Although we have access to every plan, we do not offer every plan available in your area. Any information we provide is limited to the plans that we do offer in your area. Please contact medicare.gov or 1-800-Medicare to get information on all of your options.

Contact us:


250 W. Main St. Suite 208
Ravenna, Ohio 44266
Phone: 330-654-5894
Office is across the street and just East of Chase Bank

Map

chfc-highest-standard-logo Learn more about Chartered Financial Consultants here!  

Copyright © 2023 · Chris Boring Insurance & Financial Services