The most valuable asset to you and your family is YOU. Make sure you have the right protection.  Check out this short, educational video as we talk about life insurance on this edition of Ascentra Making Cents.  To see more videos of our monthly financial education segments like this one, head to our YouTube channel.

Avoid financial hardships for those close to you, in the event of your premature death with Life Insurance.There are two main types of Life insurance, Term life and whole life. Term life ensures you for a set amount of time, such as 10, or 20 years.

Whole Life is a more expensive, but permanent option.  Whole life policies build cash value, which owners may access. Whole life is like owning your policy, and term life is like renting at a fraction of the cost, when you need it the most.

The money paid in case of death is a tax-free, lump sum, known as the death benefit. Beneficiaries may use these funds to pay for funeral expenses, pay debt, fund a child’s education, a spouse’s retirement, or even create an inheritance. The most valuable asset to you and your loved ones, is you!

Ensure that you have the right protection and contact a financial advisor from Ascentra Retirement and Investment services, to discuss your needs.

Get access to more money saving articles by visiting The Teller from Ascentra Credit Union.  Follow Ascentra on Facebook, Instagram, Twitter and YouTube for more money saving tips.

 

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