Individual Life Insurance

You’re saving for retirement, paying off your mortgage, and building a college tuition fund for your children, but will it be enough to provide for your loved ones without you?  An individual life insurance policy from O’Connor Insurance Agency can help give you and your family some additional peace of mind.

Life insurance policies, which agree to pay a specified amount in the event of the policyholder’s death, generally fall into two categories: term and permanent.

• Term life insurance is designed to cover a defined time period. Premiums for term life insurance are typically lower than for permanent life insurance policies but the payments increase as the term progresses.  Unlike permanent policies, term life insurance policies do not give you cash value access to the amount you have paid.
• Permanent life insurance policies (also called “cash value policies”) generally provide life insurance coverage for the life of the beneficiary. Premiums are typically higher than for term life policies, but the policies build up a cash value which you may access after a certain number of years.

An O’Connor Insurance agent can help you decide which policy or combination of policies will give you the best protection.  Customers must consider their living expenses and lifestyle, the amount remaining on their mortgage, potential college tuition costs, and other factors when deciding on an appropriate level of coverage.

Deciding among these life insurance options can be confusing.  If you live in Massachusetts or Connecticut, speak with an O’Connor Insurance agent today to start setting up the individual life insurance coverage that will best fit your lifestyle and your budget.