2448 E 81st St, Suite 5640
Tulsa, OK 74137

Other IconLife Insurance in Oklahoma

Life insurance offers your family protection in case something happens to you and you are no longer around to provide financial support to them anymore. There are several different types of policies American Founders Insurance Group Inc. of Tulsa, OK has available for you to use to provide your family with the financial protection they need in Oklahoma.

Type of Life Insurance Policies

There are several different types of policies for you to choose from, including the following main types:

  • Term: This type of policy has a limited time span and, once the time has passed, the policy comes to an end. The time span for term policies typically ranges from 1-30 years. Term policies cost less than the others, but you also don’t get a return of premium or the ability to take out a loan against any cash value that has accrued. If you want to extend your coverage for a longer period of time after the term ends, you’ll have to redo the entire process of getting an approval for a new policy like you did with your first one.
  • Whole Life: Whole life lasts if you pay all your premiums on time. Whole life comes with a death benefit like term insurance, but it also has a cash value derived from interest the premiums can earn on the investments the insurance provider makes with the premium money. The cash value is something you can tap into in case of financial need without hurting the death benefit if you pay it back in a timely fashion before you pass away. If you do pass away before repayment has been made, the death benefit is reduced by the amount that is owed.

There are also several other types of policies such as permanent, variable, universal, simplified, final expense, and several more you can choose from when financially protecting your family.

How to Choose the Right Policy

Choosing the right type of policy or policies to meet your family’s financial needs requires the insight and knowledge of a representative from the American Founders Insurance Group Inc. of Tulsa, OK. There are many things you need to take into consideration and you need to be aware of the advantages each policy offers to make an informed decision. Call us today to start protecting your family tonight in case something unexpected happens to you and you can no longer provide the support you once did.

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