If the worst happens, are you prepared? Will your family be able to make ends meet without you? Is there a safety net to ensure the bills are paid and your debts are covered?
No one wants to think about worst-case scenarios. But they need to be planned for, to ensure there’s a course of action after you’re gone.
This is what makes life insurance so important and it’s why Bourgeois Insurance Agency recommends some form of life insurance to all of our customers.
Life Insurance Coverage Options
- Term Life Insurance: Term life insurance in Thibodaux is a stopgap measure that gives your family the death benefits they need to carry on after your passing. It’s the simplest, most affordable type of life insurance to buy and can be purchased for different terms, as the name implies—generally in increments of 5 years. The drawback to term life insurance is that it must be renewed before the end of the term and only gets more expensive as you age. It can be converted into whole life insurance at any time.
- Whole Life Insurance: As the name implies, whole life insurance in Thibodaux covers you for the duration of your life, paying out death benefits when you pass. Whole life insurance also pays out a cash accumulation that accrues over the life of the policy, which can also be borrowed against. Whole life insurance tends to be more expensive, but the earlier in life a policy is taken out, the larger the payout alongside death benefits.
- Universal Life Insurance: For individuals who need a life insurance policy that doubles as a tax-advantaged financial vehicle, universal life insurance in Thibodaux is an option. This type of policy acts like whole life insurance, however it allows you to pay in excess of the premium, which goes towards the cash value of the policy. That cash is also subject to earning interest.
It’s hard to think about a time after your passing. Taking out a life insurance policy helps to ease the burden of planning for the worst, while giving you the security that your family will be taken care of after you’re gone.
Let Bourgeois Insurance Agency, LLC help you select the right life insurance policy for you.
Protect Yourself and Your Family
Let us help you protect your family and plan for the worst.
Contact us today at 985-803-8999 to learn more about your options.