Life Insurance, Liberal, KS

At some time everyone must take the time to determine their Life Insurance needs. These needs vary depending on the individual. Some people need life insurance for family protection which in many respects cover a myriad of ideas. Business people also have life insurance needs that must be taken care of. Some of the reasons why people elect to purchase life insurance are: Family Protection, Business Continuation, Policies Applied to Need, other.

Consider these questions when determining whether life insurance is something you need to consider seriously:

How many people depend on your earning capacity?
How much money would your dependents need for living expenses?
How long would it take for your dependents to be come self-sufficient?

Al Shank Insurance focuses on the safety measures in place to cover you or your loved ones.

We provide you with a flexible Life Insurance coverage for the lowest cost. We allow you to combine your insurance needs and savings together, making things easier.

Our expert financial and life advisors will help guide you through all the decisions you need to make to protect your family, your future and your finances.

If you are unsure which coverage's you need, and for a more complete list of what we can offer at competitive rates, please call today.

Term Insurance
Term assurance provides Life Insurance coverage for a specified term of years in exchange for a specified premium. The policy does not accumulate cash value. Term is generally considered "pure" insurance, where the premium buys protection in the event of death and nothing else.
There are three key factors to be considered in term insurance:

1. Face amount (protection or death benefit),

2. Premium to be paid (cost to the insured), and

3. Length of coverage (term).

Permanent Life Insurance

Permanent Life Insurance is Life Insurance that remains in force (in-line) until the policy matures (pays out), unless the owner fails to pay the premium when due (the policy expires OR policies lapse). The policy cannot be canceled by the insurer for any reason except fraud in the application, and that cancellation must occur within a period of time defined by law (usually two years). Permanent insurance builds a cash value that reduces the amount at risk to the insurance company and thus the insurance expense over time. This means that a policy with a million dollar face value can be relatively expensive to a 70 year old. The owner can access the money in the cash value by withdrawing money, borrowing the cash value, or surrendering the policy and receiving the surrender value.
The four basic types of permanent insurance are whole life, universal life, limited pay and endowment.

If you are unsure of what insurance you require, please allow our knowledgeable agents to guide you through the process. Not everyone needs life insurance, but to be sure that you are properly covered if you do, call on us.