Life Insurance


If you have ever thought that life insurance is not that important on your to-do list, think again. Obtaining a good life insurance policy can remove your fears that your family won’t be set for life should you have an untimely death. With life insurance, your loved one/s will be taken care of, especially if you are the main money winner in the family. There are two basic types of life-insurance, Term Life Insurance and Whole Life Insurance.


Newkirk & Company can help you to protect your loved ones with a life insurance plan that fits your needs.

Newkirk & Company can help you to protect your loved ones with a life insurance plan that fits your needs.

In a term life insurance, coverage is provided for a particular term only, hence the name. A particular amount has to be paid at regular intervals, which is known as the premium. In case the insured person dies within the specified term in the insurance policy, then the beneficiary is entitled to the benefit amount. Amount received by the beneficiary is not taxable. Benefit is obtained by the nominee only if the insured loses his life during the specified term. There exists no facility to surrender the policy and withdraw cash.

Since term life insurance typically offers lower premiums, it may be a best option for those who may choose to spend less for life insurance. Many people buy homes on loan and mortgage, and such incurred paybacks can be cleared with the amount received from the policy in case of death within the time period specified. The provision is to ensure that survivors are well taken care of and your capacity to earn and contribute to the fund is valued at the end of the term.


With a whole life insurance policy, the dependents of the insured person get a particular amount in the event of death. Other terms by which the policy is also known are permanent life policy and straight life insurance policy. It is important to make sure that all necessary payments are made in due time to keep the policy in force.

Every individual must consider a whole life insurance policy as this is one of the best ways of securing the future of your family. It is ideal to dedicate some time to find out  exactly what the policy fine print involves and the benefits that accompany the investment instrument. Life is hectic and challenging today and it is but natural that there are a lot of people who are very keen on such investment. Any unfortunate incident could happen in your life, and we all know that life is not guaranteed. In such a situation, out of the love for yourself as well as your family, considering such a policy is an extremely good idea.