September is Life Insurance Awareness Month By Atlantic/Smith, Cropper & Deeley 9/2/2015 If others depend on you for financial support, part of your financial plan should include how you will provide for them in the event of your death. Purchasing a life insurance policy is a safety net that ensures your loved ones’ future financial obligations are met, covering items such as funeral costs, outstanding debt, estate taxes and everyday living expenses. There are several types of Life Insurance and so we are offering a short description of the different types of policies available. TERM LIFE INSURANCE is a life insurance policy that provides a stated benefit upon the holder's death, provided that the death occurs within a certain specified time period. Policy does not build up a cash value. UNIVERSAL LIFE INSURANCE is a type of flexible permanent life insurance offering both term life insurance as well as a savings element, which is invested to provide a cash value buildup. The death benefit, savings element and premiums can be reviewed and altered as a policyholder's circumstances change. WHOLE LIFE INSURANCE is a basic type of permanent life insurance. It provides coverage that lasts a lifetime and also builds up a cash value that you can borrow against, withdraw or use to pay future premiums. At Atlantic/Smith, Cropper & Deeley we have a corporate culture that provides our clients with confidence and peace of mind so you can sleep when the wind blows. Don’t stay up worrying about what would happen to your family, contact us to review your life insurance options. Thank you for reading.