Why Life Insurance?
If you’re asking yourself whether life insurance is really worth it - the simple answer is yes, especially if you have loved ones that rely on you financially. Life insurance isn’t something that people like to think about but it is a vital policy to have. Having a life insurance policy can help the people you love the most after you’re gone. So let’s cover some basics and benefits of life insurance!
What is life insurance?
Life insurance is a contract between an insurance policy holder like yourself and an insurer like Nationwide for example, where the insurer promises to pay a designated beneficiary a sum of money in exchange for a premium, upon the death of an insured person. There are also different types of life insurance policies so we can make sure to fit your needs!
Term life insurance is like renting a home versus buying one. You will pay a premium for the term of your choosing and you will be covered during that term, but the policy does not grow in value. At the end of your term you will no longer have coverage. Permanent whole life insurance grows in cash value over time as you make your payments. This type of policy does not have a defined term and acts as an investment because you can also borrow against the cash value of it when you need to. Family Insurance also offers a 20-pay whole life insurance policy which lets you pay for you policy in 20 years while having life insurance for the rest of your life! It also grows in cash value like the permanent whole life insurance policy.
Another good thing to know about life insurance: start now! As you get older and your health declines life insurance becomes more and more expensive, the sooner you get a policy the lower your premium will be!
What benefits does life insurance have for me?
Life insurance has a great number of benefits like helping your beneficiaries pay off debt, cover medical expenses, or help them save for their future dreams! It will also give you peace of mind that if anything were to happen to you, your family and anyone that relies on you financially will be taken care of!
If you are interested in getting a life insurance quote please reach out to us on our contact page or go to the quote page, fill out the form and one of our agents will get back to you soon!
8/3/2021 05:46:30 pm
Thanks for stating how having life insurance can give you peace of mind that your family will be financially covered if something were to happen to you. My mom and dad want to ensure that my siblings and I are taken care of in case of an emergency. I will suggest that they invest in a life insurance policy so they can have peace of mind about that.
12/7/2021 04:42:47 am
Thanks for pointing out that life insurance can help beneficiaries pay off debt and cover medical expenses. This is helpful because my husband and I want to secure our five kids' futures. We are hoping to find an insurance provider on Monday who can provide the best life insurance coverage for our family.
5/28/2022 08:04:36 am
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Thanks for helping me understand that life insurance would be a contract wherein you get a sum of money in exchange for the premiums you pay. I have been meaning to get one for myself now that I live on my own, and my savings might not be that much of help when things happen in the future. So I will probably invest in this before this month ends to protect myself when I get older or when I acquire an illness.
9/6/2022 11:52:50 am
There are actually lots of kinds of insurance coverage offered on the market place today, yet all of all of them are actually regarding safeguarding us, family members, or properties coming from some sort of monetary reduction.
3/27/2023 04:56:24 am
I appreciate you sharing the information on life insurance. I sincerely hope that I can implement your advice and that it proves successful for me as well. Visit this website, Avoca.com.au, if you can to get more information or advice.
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