Life Insurance

Life insurance is a type of insurance policy that provides a lump sum payment to your beneficiaries in the event of your death. This lump sum payment can be used to pay off debts, cover living expenses, or help loved ones financially during a difficult time.

There are two main types of life insurance policies: term life insurance and permanent life insurance. Term life insurance provides coverage for a specific period of time, such as 10, 20, or 30 years. If you pass away during that period of time, your beneficiaries receive the payout. If you outlive the term, the policy expires and you don't receive any benefits.

Permanent life insurance, on the other hand, provides coverage for your entire life. As long as you pay your premiums, your beneficiaries will receive the payout when you pass away. Permanent life insurance also has a cash value component, which can be borrowed against or used to pay your premiums.

When deciding on a life insurance policy, it's important to consider your financial situation, your family's needs, and your long-term goals. You may want to speak with a financial advisor or insurance agent to help you navigate the options and find the right policy for you.

At V&I Accounting, we offer life insurance policies that can provide peace of mind and financial security for you and your loved ones. Contact us today to learn more about our life insurance options and how we can help you protect your family's future.