Life Insurance in Clayton, MO
Planning for your family’s future involves considering expected milestones and unexpected events. Life insurance can offer financial support for your loved ones after your death, allowing them to maintain their standard of living and pursue essential goals.
At Chapman & Hogan Insurance, we understand the importance of creating a sound financial foundation for those who matter most to you.
What Is Life Insurance? 
Life insurance is a financial agreement between you and an insurance carrier designed to offer a death benefit to your designated beneficiaries when you pass away. Unlike other insurance types that handle immediate situations, life insurance focuses on long-term financial security for your beneficiaries.
When you purchase a policy, you select a coverage amount based on your family’s potential future needs, name beneficiaries who can apply for the death benefit after you pass away, and make regular premium payments to maintain the coverage.
What Is the Difference Between Term and Whole Life Insurance?
Term life insurance covers a specific period—typically 10, 20 or 30 years. If you pass away during this term, your beneficiaries may receive the death benefit. If you outlive the term, the policy typically expires without value unless renewed or converted. Term policies generally offer higher death benefits at lower premium costs, making them attractive for those seeking maximum coverage during specific life stages, such as raising children or paying off a mortgage.
Whole life insurance offers coverage that lasts your entire lifetime if premiums are paid. Beyond the death benefit, whole life typically includes a cash value component that builds over time. This cash value grows tax-deferred and may be accessible during your lifetime through policy loans or withdrawals.
The right choice between term and whole life depends on your specific situation, including your budget, long-term goals and financial responsibilities.
Plan for Tomorrow Today
Contact Chapman & Hogan Insurance to explore life insurance options that fit your Clayton family’s needs. Our experienced team can help you understand how different policy types work with your overall financial strategy and find coverage that aligns with your goals.