PRODUCTS

Individual Life Insurance

Life insurance from Silverton Insurance Agency can help you secure your family’s financial future by providing the funds they need to: cover burial expenses, uninsured medical bills, pay off your mortgage and other outstanding debts, and maintain a comfortable standard of living.

There are a variety of life insurance policies that we can provide. The kind of policy you choose depends on your needs:

• Term Life Insurance

Term Life Insurance is a low-cost way of providing maximum coverage for your family. Protection is provided for a limited number of years. The insurance expires without value if the insured lives beyond the policy period, usually 5 to 30 years. Other policy life periods are available, including 1 year annual renewable term.

Term insurance premiums will not increase during the guaranteed policy time period (term) you select. Term Life Insurance pays a death benefit only if you die during that term. Term insurance generally provides the largest insurance protection for your premium dollar.

Term Life Insurance remains in force for as long as premiums are current, provided there are no misrepresentations on the application. The insurance coverage terminates if you discontinue your premium payments.

• Whole Life Insurance

Whole Life Insurance provides permanent protection for the whole of life – from the date of policy issue to the date of the insured’s death, provided that premiums are paid. Premiums are set at the time of policy issue and remain level for the policy’s life. Unlike term insurance, whole life combines insurance protection and savings or cash value which builds over time. Cash value build-up may provide a source for living benefits, for example, helping pay off a mortgage, or a child’s education, or cash surrender value if the policy is ever cancelled.

These products are continually changing and we can provide you with the latest information and policies available!

• Final Expense Insurance

Final expense insurance helps families cope with the loss of a loved one’s funeral and burial expenses. With so many different options to choose from, the average cost for a service, burial plot, casket, and headstone can range anywhere from $10,000 to $15,000, depending on location, and the grieving period is no time to be making complicated financial decisions.

Final expense insurance is a great alternative to traditional life insurance, because it is more affordable, no medical exam is required, and premiums will not increase over time. In addition, final expense insurance often times can provide funds to your family within a few days of your passing whereas traditional life insurance plans can take weeks to pay out. This instant, short-term monetary relief can be crucial for staying current with mortgage payments and covering day-to-day living expenses.

No longer a luxury, final expense insurance is a necessity. So what are you waiting for? Give yourself and your loved ones peace of mind today.

• Mortgage Protection Insurance

For most homeowners, the mortgage is the single largest source of personal debt. Mortgage protection insurance can pay off that debt in the event of your death.

Imagine the worst case scenario. A fatal accident today would force your loved ones to immediately experience financial hardship. On top of your final expenses, the mortgage is due, but your family has no way to pay it without your income. They haven’t even had enough time to grieve and now they have to deal with the impending tragedy of foreclosure. Like most life insurance, mortgage protection insurance eases the financial burden of your loved ones. It is an affordable way of ensuring that your home is paid for no matter the circumstances.