Here at Norbay Insurance Services we offer our clients life insurance, either as term life insurance policies or as whole life insurance policies. Life insurance protects your children, heirs and estate when you pass away. Increased life insurance serves to pay off your mortgage, preventing your loved ones from suffering from any financial burden. In later years, life insurance can protect your retirement, leaving your heirs (spouse and children) financially equipped to cover miscellaneous costs after your demise, including burial and memorial costs.
Term Life Insurance
Term life insurance is offered and guaranteed for a certain amount of years – typically for 10, 15, 20, or 30 years. The minimum amount of term life insurance coverage starts at $100,000, and goes up in increments of $10,000. Term insurance is more widely bought, because it is much less expensive than whole life insurance policies.