Life is a very fragile thing and while most of us try to live in the present, it is still very important to plan for the future and the hard truth is that the future can change at any moment.  That is why a Life Insurance Policy is very important option to consider, especially if you have loved ones who depend on your financial support that would be left alone in the event of your death.  If you are wondering whether or not a Life Insurance Policy would be appropriate for you or even which type of policy would be best suited for you, call one of our agents today and we’ll help you out.

Who Needs Life Insurance?

If you are someone who has other people depending on your income to manage the financial responsibilities around the house, then it very important that you consider a life insurance policy.  A family whose wage earning parent dies prematurely or a stay at home mother who passes away while her children are still young, are ideal candidates for a life insurance policy.  Simply put, this type of policy protects the ones you love in the event that anything should happen to you.

How Much Do You Need?

When it comes to determining how much coverage you need and which type of policy is best suited for you, there are a lot of variable that come into play.  There are three main types of life insurance; Whole, Term, and Universal, and like any insurance policy these all have their pro’s and con’s.  Contact one of our agents today and we’ll help you figure which policy would work best for you.



Term Life

Term life insurance is so aptly named because this policy will provide coverage for you for only a specific period of time or “term” (most commonly ranging from 10-30 years).  Ideally term life is most often purchased to cover life insurance needs that are not permanent, such as covering the cost of college for children or the financial needs while the children are growing up.


Whole Life

Whole life insurance, as implied by the name, is a policy that covers you for your whole life.  Since it has no fixed end date, the beneficiaries will not have to worry about if they will receive a death benefit if you should die un-expectedly.  The cost of a whole life insurance policy is paid out over many years, so the premium remains the same.  This allows older people on a fixed income not to worry about increasing premiums. Unlike term life insurance, whole life insurance accumulates a cash value over time.  If you decided to cancel the policy after a certain period of time, the insurance company will yield the cash value to you.  You may also borrow some of the cash value as a loan, without the risk of being turned down or having to deal with the approval process.  If you are someone who wants a lifetime policy that will help protect the ones you love, without having to worry about the risk involved, then a whole life insurance policy may be the best option for you.


Universal Life

Universal life insurance offers a lot of the same features of whole life insurance, but provides for greater flexibility once the policy is in force.  Like whole life insurance, universal life insurance protects the policyholder until death, no matter when that may be.  Also like whole life insurance, universal life insurance accumulates cash value over time. But unlike whole life insurance, universal life insurance splits the death benefit and cash value accumulation into separate sections.  This allows you to make changes to the policy, should you need to adjust the size of premium payments or the size of the death benefit.  Also, once the cash value has accumulated you can withdraw the money, but the money must be paid back or else the death benefit will be lowered.


The Feltner Group

Rochester Office

191 S. Union St., Spencerport, NY 14559
P: 585.352.1234 • F: 585.352.1660

Canandaigua Office

502 S Main St., Canandaigua, NY 14424
P: 585.394.4597 • F: 585.394.0294


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