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Your family is probably the most important
thing to you. Protecting them should be just as important.
A sound life insurance program is the perfect solution.
The primary purpose of life insurance is to provide cash
for your family in the event of your death to ensure that
they can remain in their home and continue to maintain
an adequate standard of living. There are several types
of life insurance available to those in Greencastle, Chambersburg, Mercersburg, Waynesboro, and the surrounding areas:
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Term Insurance
covers you for one or more years. If you were to
die during the term a death benefit will be paid.
Term Insurance generally offers the largest protection
for your premium dollar. It also does not normally
build up a cash value. This policy is renewable
for one or more terms. Each time you renew your
policy for a new term, your premium may be higher.
Ask about the premiums if you plan to renew your
Term Insurance in the future. You may be able to
trade in your policy for a cash value contract during
special conversion periods.
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This type of insurance
has a higher premium at the beginning of the term
compared to a Term Insurance policy. Part of the
premium will be used to pay for the death benefit,
and the remaining amount will be invested into a
cash value. You can use your cash value for many
purposes. If you need to borrow some money, you
can use a Policy Loan. If you don't pay back the
loan and the interest on it, the amount you owe
will be subtracted from the death benefit when you
die. Another way you may use your cash value is
to increase your income when you decide to retire.
You can also use the cash to pay your child's tuition.
In order to have the cash value policy you must
pay a higher premium during the early years of your
policy. Cash Value Insurance includes; Whole Life,
Universal Life, and Limited Pay Life, which are
all cash value policies.
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Whole Life Insurance
covers you for as long as you live as long as your
premiums are paid. When you first take out this
policy your premiums will be higher than they would
pay for Term Insurance. Usually in the long run
you will be paying less for Whole Life Insurance
than you would with all the renewals of Term Insurance.
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This is a type
of insurance in which your payments are put into
an account and accumulates interest. The payments
due for the policy are taken out of that account.
You must continue to pay your premiums and to keep
your policy in force and elapse. If there is enough
cash value in your account and you continue to pay
the premiums you will generate a larger cash value
for the future.
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Antrim
Insurance Agency, Inc.
Greencastle location
169 S. Antrim Way
PO Box 328
Greencastle, Pa 17225
717-593-0500 (phone)
717-593-0502 (fax)
Waynesboro location
1685 East Main St.
Waynesboro, Pa 17268
717-762-4565 (phone)
717-762-6801 (fax)
angie@antriminsurancepa.com
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