Life Insurance Options for New York Tri-State Families
As your life changes, so does your need for life insurance. That’s why it’s important to assess your life insurance needs every year. If you’ve gotten married, had a child, bought a house or received a promotion, your existing life insurance coverage may no longer be sufficient.
Most life insurance policies fall into two major 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.
- Permanent insurance generally provides lifelong protection. As long as you pay the premiums and take no loans, withdrawals or surrenders, 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.
The best way to learn which kind of coverage is best for you is to meet with a qualified life insurance professional. We can help you assess your needs and shop the market for the best life insurance policies available. 
For additional information; to have your current plan reviewed; or to discuss various options available; please contact Jennifer Gordon at (914) 937-1230 or e-mail Jennifer at jgordon@bncagency.com.
