Life Insurance Hot Springs Arkanas Term Whole Life HRS Insurance Agency

HRS Insurance Agency
1401 Malvern Avenue Suite 30
Hot Springs, AR  71901
Why Do I Need Life Insurance? There are two basic and necessary reasons to buy life insurance. You owe someone or You love someone. You owe someone: Last expenses (Funeral and probate costs) Current debts (Auto loans, credit cards, etc.) Mortgage or rent (To pay off house note or ensure coverage of rent payments) You love someone: College education Income continuation

What Kind of Life Insurance

There are two basic types of life insurance: term and permanent. Each should be considered carefully to determine which best fits your individual needs.

Advantages of Term

  • Lower cost protection in early years
  • Customized for coverage to last for a specific number of years
  • The option to exchange the policy for permanent coverage without having to show evidence of good health

Advantages of Permanent

  • Lower cost in later years
  • Permanent protection
  • Level premiums
  • Accumulation of cash for emergencies, college education, retirement supplement
  • Tax-deferred wealth accumulation
  • Tax-free income distribution
  • Flexibility
  • Coverage without paying premiums by using various options

Disadvantages of Term

  • Higher cost protection in later years
  • Increasing premiums
  • No equity or cash value savings
  • Failure to pay premiums ends coverage

Disadvantages of Permanent

  • Higher initial cost
  • Future dividends and current interest rates not guaranteed
Contact Us to get a Quote today!

HRS Insurance Agency
1401 Malvern Avenue Suite 30
Hot Springs, Arkansas 71901