Life insurance
Protect Your Family's Future
Life insurance can get complicated. Simply put, after your demise, life insurance is a way to provide for those who financially depend on you.
There are several types of life insurance, but the two most common are Term and Whole Life.
Term Life Insurance
Term life insurance provides coverage for a set time period, such as 10, 15, or 25 years. As long as the policy hasn’t expired (past the set period) and the premiums have been paid, then the policy will payout to your beneficiary. With typical term life insurance, your policy is renewed year-to-year. Term life is more affordable than whole life insurance but does not have any cash value.
And for how long?
Photo by RDNE Stock project
Whole Life Insurance
Whole life insurance covers your entire lifetime, as long as the premiums are paid.
Whole life insurance also includes an investment component. It will have a fixed interest rate that builds cash value over time, as you pay your premiums. With some whole life policies, you can make withdraws from this policy.
De-mystify life insurance
Life insurance can be daunting and confusing. Talk with one of our agents about your specific situation, and we will walk you through what policy is best for you.
Life Insurance and Financial Planning
Along with your savings accounts, retirement plans, estate planning, and real estate (such as your home), life insurance can play an integral part of your financial security and the financial security of your loved ones.
The type of life insurance that you need depends upon your situation and financial goals. A good place to start is to determine who depends upon your income and how long they will need it.
Life Insurance Calculator
Estimate your coverage needs
Don't know how much you need? Use Erie's Life Insurance Calculator. It's fast and private, and there is no obligation.
Go to Calculator
Cheap Life insurance: is it worth it?
A low premium is only one factor in selected a life insurance policy. Make sure that the company you are purchasing life insurance from is highly rated and that the payout will meet your beneficiaries’ needs.
Erie Insurance Group is a Fortune 500 company and has earned A.M. Best’s rating of A+ (Superior). Erie Family Life Insurance Company has earned A.M. Best’s rating of A (Excellent). Also, with an Erie Life Insurance policy, you may be able to save with a multi-policy discount.
Get a quote
Request A Quote
Thank you for your interest and trust in our agency. Please fill out the request form or call to speak with an insurance agent: (724)774-3584. We will be happy to serve you.