Life Insurance and Annuities

Life Insurance and Annuity Solutions

Westgate Insurance Agency offers both term and permanent life insurance options, along with annuities so that you can start planning for retirement.  Our office is conveniently located in Toledo, Ohio and our friendly staff is happy to answer any questions that you may have regarding life insurance or annuities.

Differences Between Term Life and Permanent Life Insurance

Term life insurance is in place for a certain number of years, while permanent life insurance stays in place for the rest of your life.

Common lengths of term policies include 5 years, 10 years or 20 years but the term lengths are usually pretty flexible.   Our team of trained professionals can help you decide on a term length that is right for you and your situation.

When people think about the differences between term life and permanent life insurance, the period of time that the policy is in effect is one of the first differences that come to mind.

However, there are other distinctions between the two that should be noted.  For example, permanent life insurance may give you the option of building up a cash value over time that you can borrow against.

Term life insurance does not build up a cash value and therefore policy owners can’t borrow against it.  While term life insurance has no cash value, it’s typically a lot cheaper to purchase than permanent life insurance is, making it a more affordable option.

Which type of life insurance is right for you?  Give our office a call or stop in to set up an appointment to discuss your life insurance needs.  We’ll go over your options with you and develop a plan that’ll protect you now and in the future.

Can I Convert a Term Policy to a Permanent Policy?

Yes, in many instances your term life insurance policy can be converted into a permanent life insurance policy.  For more information on how to do this or to simply find out more information, contact our office.

Why is Life Insurance Important?

Life is full of unexpected events and it’s important to make sure that you’re covered. In the event of death, your family is going to be left with funeral expenses and they’re still going to have their daily living expenses that you were contributing to.



Life insurance will help ease the financial burden that your family may be faced with and it’ll give them security in knowing that they can still pay family expenses.

Funeral costs rise each and every year, making life insurance a necessity to have.  It doesn’t matter what stage of life you’re in, life insurance will help protect your family in the event that the unexpected does happen.

What's an Annuity?

While life insurance helps protect your family’s finances in the event of death, an annuity can help you live the life that you want to live after you retire.  With an annuity, deposits are made into an account and your money grows at a guaranteed rate of return.

Unlike other investments, when you put money into an annuity, you know how much money you’re going to be getting and when you’re going to be receiving it.  This type of product can also offer tax-deferred benefits that a cd cannot.  For more information on annuities or life insurance, give Westgate Insurance Agency a call or stop by and meet our staff.