Life Insurance in Michigan

Life insurance is one of the keys to personal financial stability and something every household should consider. Alliance Financial & Insurance in Grand Rapids, Michigan can help assess your current coverage, determine the right level of coverage for you, and provide a quote to guide your decision.

Why have life insurance?

If anyone counts on you or your income, including your spouse, children or parents, then the money can help keep their life stable if something happens to you. Life insurance provides peace of mind for you and for those who count on you. There are different types of life insurance that are within reach to individuals from many walks of life.

Types

There are two primary types of life insurance, described below.

Term life insurance provides coverage for a specified period of time.

• For example, some parents seek coverage only until their children are “grown and flown”.
• Some individuals may seek additional coverage while they have a mortgage or other debt.
• Rates are based on the likelihood that you would need to use the policy and are stable within the insured timeframe.

Permanent life insurance provides for your beneficiary with funds without the time limit of a term insurance policy.

• Permanent insurance includes an investment or savings component.
• These policies cover you and your loved ones for life

Determining the right type of insurance, the amount of coverage and the cost can be complex but doesn’t need to be overwhelming.

Choose someone you trust

It is important to seek an agent you have confidence in to help you determine your needs and what you can afford. In Michigan, the Department of Insurance and Financial Services (DIFS) regulates insurance for the state. A licensed professional from Alliance Financial & Insurance of Grand Rapids MI will be happy to review your current insurance profile, discuss your needs and goals, and provide a quote.

To find out more, please call 616-897-1515 or visit our office in Lowell, MI.