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Life Insurance

Life insurance isn't for you, but for the ones you leave behind. Be sure they're covered.

DFS InsuranceThere are many kinds of life insurance, but they generally fall into two categories: term insurance and permanent insurance.

Term insurance is designed to meet temporary needs. It provides protection for a specific period of time (the "term") and generally pays a benefit only if you die during the term. This type of insurance often makes sense when you have a need for coverage that will disappear at a specific point in time. For instance, you may decide that you only need coverage until your children graduate from college or a particular debt is paid off, such as your mortgage.

In contrast, permanent insurance provides lifelong protection. As long as you pay the premiums, and no loans, withdrawals or surrenders are taken, the full face amount will be paid. Because it is designed to last a lifetime, permanent life insurance accumulates cash value and is priced for you to keep over a long period of time.

It's impossible to say which type of life insurance is better because the kind of coverage that's right for you depends on your unique circumstances and financial goals.

But remember, the best way to figure out the amount and type of life insurance that makes sense for your particular situation is to meet with a qualified life insurance professional.

Insurance products are not deposits of, or guaranteed by Levo Credit Union and are not insured by the National Credit Union Share Insurance Fund (NCUSIF), or any agency of the United States, Levo Credit Union, or DFS Insurance.  Any insurance required as a condition of an extension of credit by Levo Credit Union need not be purchased from DFS Insurance and may be purchased from a licensed insurance company of your choice.

JasonYoung

DFS Insurance

DFS Insurance is a credit union owned independent insurance agency that shops around for the best possible price and coverage for your insurance needs.

Our mission is to help you determine your needs and better understand insurance coverage -- because if you don't understand the details, you can't make an informed decision. Trust your credit union for the sound advice, appropriate product and competitive price that you've come to expect for so many years.

Jason Young
605-977-8341