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Group Life Insurance
Dealing with the loss of a loved one is hard enough without having to worry about financial burdens. Group life insurance is often the answer, with a life insurance quote depending on whether term life insurance or permanent life insurance (including whole life insurance and universal life insurance) is chosen. Usually employer-sponsored, policies from Synergy Benefits can help ease the burden a family faces when a major source of income is lost as the result of the passing of a family member.
Investing in a life insurance policy ensures peace of mind in knowing that in the worst of eventualities, your family will be provided for, your estate costs will be covered and enough funds will be provided to take care of any other financial responsibilities. We provide flexible plans to meet individual insurance needs: one can choose the amount of coverage, a specific time period of coverage, and Synergy Benefits will take care of the rest.
Each type of insurance policy has certain specifications, and it is up to the insured to determine which is the most advantageous. With term life insurance, policies are issued for a specific period, after which time the insured can either drop the policy or opt to pay an annually increasing premium to continue coverage. With permanent life insurance, policies remain in force as long as the premiums are paid and until the policy reaches maturity. There are two types of permanent life insurance. Whole life insurance consists of fixed premium rates and incorporates an investment plan whereby interest is earned in addition to the insurance coverage. Similarly, universal life insurance also serves as a savings plan, but it is considered more flexible than whole life insurance as premiums are not fixed.
Designed to protect an individual’s assets in the event of an untimely passing, life insurance is increasingly proving a necessity. Beneficiaries can use proceeds from life insurance for final expenses, mortgage or credit card debt, education funds or any other required expenditure. Various life insurance quotes for term life insurance or permanent life insurance (including universal life insurance and permanent life insurance) allow for several options with regards to premium rates.
For further questions and inquiries, go to the Contact Us page for contact information.
Click the button below to contact an Insurance Specialist at Synergy Benefits to receive a quote on this type of insurance.
