Life Insurance in Cincinnati, Ohio

Although there are many kinds of life insurance you can choose from in Batavia, OH, they all fall under two main categories: term and permanent.

Term insurance is the simplest form of life insurance, which is paid out only if the policyholder dies during the policy term; therefore, this makes more sense if you need coverage exclusively for a certain amount of time (until a debt is paid, for example). Terms tend to be 10, 15, 20, or 30 years, so if you buy a life policy for 20 years for $500,000, you will pay a certain amount of money monthly, and the $500,000 will be paid out only if you die during the 20 years set in the agreement.

Permanent insurance guarantees to provide you with lifelong protection, provided you pay all the premiums. This would cover you even if you were to live to be over 100. There are different variations, but the full amount will be paid out in all cases.

While less straightforward than term life insurance, this kind of life insurance is something of an investment account simultaneously. This is because it includes a "cash value" that you can access and borrow against.