Term Or Permanent

Term or Permanent?

Depending on the type of life insurance protection you select, term or permanent, your options vary.

Term Life insurance is purchased for a specified period of time based on your needs.

You pay a premium and, if you die during the term period, your beneficiaries are paid the amount of the policy. Often times, individuals buy term policies based on a specific funding need. For example, you may buy a 20 year term policy to help fund your child's education in the event you pass away. A term policy may also be a good idea if you have a large amount of debt that will need to be paid in the event of your death.

Permanent Life insurance can provide lifetime protection as long as your premiums are

paid. Some permanent life insurance products ha ve guaranteed premiums that remain the same for the duration of coverage. Other permanent life policies have flexibility in premium amount as long as it's enough to maintain coverage. As you pay premiums, your policy accumulates cash value, which grows on a tax-deferred basis.

Talk with your insurance agent about appropriate life insurance options for you. He or she can help you tailor a policy to meet your needs. Set up an appointment to discuss your needs today!

Tips brought to you by Jason Fleming, Career Agent with Farm Bureau Financial Services. For more information on auto, home, life, college and retirement funding products and services, call Jason Fleming at 763-780-6867.

# # # # #

Products offered through Farm Bureau Life Insurance Company* and Farm Bureau Mutual InsuranceCompany*/West Des Moines, IA.

*

Companies of Farm Bureau Financial Services