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If you have a family to protect, a sound life insurance program is the perfect solution. There are
two basic types of life insurance needs: temporary and permanent.
Temporary
Temporary
needs include home mortgages or short-term debt reduction, family income and
educational expenses and can last as little as one year or last 20 to 30 years or longer. Term
insurance is the most cost effective method of insuring many short-term needs. There are a
variety of plans to choose from, ranging from an annual renewable term (1 year plan) to a level
term plan that could last 5, 10, 20 or 30 years.
Permanent
Permanent needs include those that last for your entire life or potentially for periods of 15 years
or more. Permanent insurance needs include final expenses, funds to cover estate taxes and
retirement savings protection. Permanent and universal life plans are ideally suited for meeting
these goals.
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 a number of factors that determine the cost you pay for life
insurance including:
- Age
- Health
- Tobacco Use
- Occupation
- Hobbies
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Endorsements
ERIE offers a variety of optional coverages to meet your individual needs and these can be
added to your homeowners policy by endorsement for a minimal additional premium:
If you are interested in obtaining more information or an auto quote, Contact Us. |
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