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1870 Dublin Blvd, Ste E,
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You are here: Home / Coverage / Term Vs. Perm Life Insurnace

Term Vs. Perm Life Insurnace

By Mark Olsen on March 12, 2018

Plan For The FutureLife Insurance - Term vs Perm

A recent study conducted by ConsumerAffairs in 02/2022 found that nearly a quarter of US adults are without Life Insurance. This has become a topic of discussion especially since the Covid pandemic.

In the Insurance world, we are continually searching for ways to help our clients live day to day feeling their possessions are safe and secure. In my life, my family is my most valuable and important aspect so I have taken measures to ensure they are protected if something were to happen to me. I would love to share the value of Life Insurance for your family and to go over the options available to you.

Term Vs. Perm

Often, I am asked about the difference between Term and Permanent Life Insurance. Here are some basic facts to guide your decision:

Term

  • Provides affordable coverage for a set period of time
  • Greatest amount of coverage at the lowest initial cost
  • Premiums that stay constant for a set amount of time (usually 10, 20, or 30 years)
  • Temporary coverage for your personal/business needs
  • Renewable/convertible to Permanent coverage

Permanent

  • Covers long-term needs like income for family, inheritance for children, or end of life expenses
  • Premiums generally do not increase
  • Costs more initially but can accumulate cash value
  • Includes Whole Life and Universal Life
    • Whole Life
      • Good for young adults just starting out
      • Perfect for families needing protection while saving for the future
      • Cash value accumulates at a guaranteed interest rate
    • Universal Life
      • Flexible coverage
      • Tailors coverage to personal needs

I would love to meet with you to go over the options and to discus which option is the best fit for your family. Sometimes this could be a combination of both Term and Permanent Life Insurance.

At Mark Olsen Insurance, when you bundle your new Life Insurance policy with your auto or home, you can be eligible for several discounts!

Call our office to talk to someone about investing in Life Insurance today!

Blessings,
Mark

 

Study:

ConsumerAffairs Research Team. “What Would Happen to Your Family if You Died?” ConsumerAffairs, 02/2022, https://www.consumeraffairs.com/insurance/what-would-happen-to-your-family-if-you-died.html.

Filed Under: Coverage, General Tagged With: colorado springs, coverage, family, insurance, life insurance, mark olsen, Permanent, protection, saftey, Term, Universal Life, Whole Life

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Testimonials From Our Clients

He Frequently Saves Me Money

Mark meets with me once a year to review my insurance coverage, and adjust when necessary. I truly appreciate him doing this, including the money he frequently saves me. The service Mark and his dedicated and talented team provide my family and I are the reason I’ve been an Olsen Insurance customer for 25+ years.

Ross J.

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To Whom It May Concern: I just want to take the time out of my schedule to thank the Mark Olsen agency for going above and beyond the call of duty for me. They have done a terrific job for me and my family! For example: when my wife & 2 sons were rear ended in a car accident, Mark personally came to take me to the tow company’s lot to retrieve my personal belongings from the wrecked vehicle. When my wife had a blow out taking her mother to the emergency room, it was Jan Houston, Mark Olsen’s office… Read more “Going Above and Beyond the Call of Duty”

David C. M.

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Dear Mark: I wanted to drop a quick note to let you know how much I appreciate the super service you and your staff have provided to me. After dealing with only one other insurance company thus far, it is refreshing to be able to talk, face-to-face, with someone who is eager to assist. Please pass along to your entire staff my heartfelt appreciation! Sincerely,

Daniel B.

Correspondence Complimenting Service

Dear Mark: I just received a very pleasant letter from your insured’s Duane and Betty S. in which they are very complimentary of the service you provided them. During the course of each day, much of my correspondence would be considered negative or at least neutral. It is certainly a pleasure to receive positive correspondence complimenting the service of our agency force. Mark, thank you for providing the customer-focused service which generated this correspondence and brightened my day. I appreciate and commend you on your conscientious performance. Best personal regards, Don Mealer, CLU, LUTCF Assistant Regional Manager

Don Mealer, CLU, LUTCF

Letter of Recommendation

RE: Letter of Recommendation for the Mark Olsen Insurance Agency TO WHOM IT MAY CONCERN: The purpose of this letter is to recommend the Mark Olsen Agency for your insurance needs. Mark has provided life, auto, and home insurance for my family since 1986, and his office has always promptly and efficiently answered our insurance questions and provided exceptionally friendly service. If you should have any questions regarding Mark Olsen’s Insurance Agency, please do not hesitate to contact the undersigned.

Scott H.
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