Eden Wayne W Insurance Agency Incorporated

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Eden Wayne W Insurance Agency Incorporated
3240 Dixie Hwy Ne
Palm Bay, FL 32905
Phone:(321) 723-4263
Fax:(321)723-2826

At Wayne W. Eden Insurance Agency, Inc. we are continuously working to provide the individual coverage you require. When it comes to protecting your auto, home, business and family, don't leave it up to chance, or fly-by-night brokers. At Wayne W. Eden Insurance Agency, Inc. we take pride in our business and strive to be relationship specialists providing you with the total insurance solution for all your needs. Being insured with the best has its advantages.

While there a many different types of life insurance policies, they generally fall into two categories – term and permanent.

Term

Term Insurance is the simplest form of life insurance. It provides financial protection for a specific time, usually from one to 30 years. These policies are relatively inexpensive and are well suited for goals, such as insurance protection during the child-raising years or while paying off a mortgage. They provide a death benefit, but do not offer cash savings.

Purchasing term insurance is like renting a home. It is a short-term solution. Monthly costs are usually lower, but you will not be building equity. Just as many people rent (while saving to buy a home), individuals who need insurance protection now, but have limited resources, may purchase term coverage and then switch to permanent protection. Others may view term insurance as a cost-effective way to protect their family and still have money to put into other investments.

Permanent

Permanent insurance (such as universal life, variable universal life and whole life) provides long-term financial protection. These policies include both a death benefit and, in some cases, cash savings. Because of the savings element, premiums tend to be higher. This type of insurance is good for long-range financial goals.

Purchasing permanent insurance is like buying a home instead of renting. You are taking care of long-term housing needs with a long-term solution. Your monthly costs may be higher than if you rent, but your payments will build equity over time. If you purchase permanent insurance, your premiums will pay a death benefit and may also build cash value that can be accessed in the future.

Copyright 2010 Wayne W. Eden Insurance Agency, Inc.