Life Insurance 101: Protecting Your Family's Future

Life insurance provides financial protection for your loved ones when you're no longer there to provide for them. Here's what you need to know.

Types of Life Insurance

Term Life Insurance

• Coverage for a specific period (10, 20, or 30 years)
• More affordable premiums
• No cash value component
• Best for temporary needs

Whole Life Insurance

• Lifetime coverage
• Cash value that grows over time
• Higher premiums
• Can borrow against the policy

Universal Life Insurance

• Flexible premiums and death benefits
• Cash value component
• Investment options
• More complex than term life

How Much Coverage Do You Need?

Consider these factors:

1. Annual income (multiply by 10-12)
2. Outstanding debts (mortgage, loans)
3. Future expenses (college tuition)
4. Final expenses (funeral costs)
5. Lost benefits (employer benefits)

Common Mistakes to Avoid

• Waiting too long: Premiums increase with age
• Under-insuring: Not enough coverage for your family's needs
• Over-insuring: Paying for more than you need
• Not reviewing: Life changes require coverage adjustments

Why Choose Elitus Insurance?

We help you:

• Determine the right amount of coverage
• Compare policies from top insurers
• Find affordable premiums
• Understand policy terms and conditions

Protect your family's future today. Contact us for a free life insurance consultation.