LOS ANGELES, Jan. 20, 2014 /PRNewswire/ -- Life insurance is a great way to plan ahead for family and loved ones. It can help people protect and further their financial goals and ensure financial security for their beneficiaries. However, life insurance with living benefits offers more. Life insurance with a cash value allows an individual to create a policy that will offer critical financial protection for both the individual and his or her family now and later. There are two basic types of life insurance: term life and living benefits life insurance. Both types of policies offer death benefits, which are their main purpose. However, they have distinct differences that can allow applicants to narrow down their options to find the best policy for their needs. Sofi Insurance Services offers information about life insurance with living benefits and their advantages.
Sofi Insurance Services offers extensive insurance support for consumers who are looking for the right plan. Their site includes a wide range of life insurance policies, including universal life, variable life, permanent life, standard term life, mortgage life, return of premium life, final expenses life, non-medical life, index universal life insurance and other types of life insurance. An experienced Los Angeles life insurance broker is available to make it easy for anyone to find and purchase the plan that is best for them. Visit http://www.lifeinsurancewithlivingbenefits.net for more information.
While term life insurance is in effect for a specific term, often 10 or 20 years, policies with cash values, or living benefits offer permanent protection. They also build cash value, pay returns and defer taxes throughout the life of the policy. The growth of this type of policy is guaranteed and can help contribute to an overall financial or retirement plan. They can be tapped as loan collateral and borrowed against in certain situations. Additionally, they pay dividends, which can be used to pay the premiums, reinvested in the policy or paid out. Deciding between term life and other types of life insurance can be confusing, but the assistance of a qualified Los Angeles life insurance agent can help people better understand their insurance needs and options.
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SOURCE Sofi Insurance Services