Life Insurance

There is no better decision you could make than getting a life insurance policy. Nobody has the power to predict when they are going to die. The best you can do is stay prepared for such events. Death leads to sorrow for your loved ones. They are left with grief, and after you are gone, the best way to help them is leaving a form of financial security behind to help them pay the bills that you used to pay. Although this cannot change the fact that you are no more, it can fill the financial void once the breadwinner is gone. They can use the funds to pay the mortgage, rent, medical bills, and school fees.

Pierce Insurance offers you with comprehensive and affordable life insurance policies that fulfill the requirements of the state. The basic life insurance policies that we provide in Minnesota are;

Term life insurance-

This is the simplest and most affordable type of life insurance. Term insurance will provide your beneficiaries or family with a limit of money that you choose if you pass on during the policy period. These policies are for a set amount of years- typically from 10 to 30 years and will only pay out if you die. It does not build any cash value and when the term is up, you can purchase another term policy or you may need to look at a Permanent Life policy depending on your situation.

Permanent or Whole life insurance-

This type of coverage does not have an expiration date as they are designed to provide protection until the day you die. Besides just providing a death benefit, they will build up cash value so your premiums are being put away that you can use in the future, but if you pass on early your family still receives the full death benefit. This cash value can be borrowed or used in an emergency so these are more flexible than a Term policy. You can change and increase certain types of permanent insurance plans to meet your needs as your situation in life changes.

There are also convertible term policies which allow you to convert your term insurance to permanent in exchange for higher premiums than you used to pay. Permanent or whole life insurance is ideal if;

• You want to stay insured for as long as you live
• If you need your premiums to accumulate a saving element

If you come to Pierce Insurance, we can help you make a sound decision and understand everything you need to know concerning life insurance requirements in Minnesota. Contact or visit us today for assistance.