A good agent can go a long way toward explaining your life insurance policies to you, and it’s highly recommended that every family or business person work with an experienced agent who will take the time to explain what policies they offer. Here are some important things that you want to know from your agent.
• How much money your loved ones will receive when you die
• How long your policies will be in force
• How much money you are paying
• If and when your policy eventually ends
• Whether or not you are building any cash values on your policies
The answers to these questions determine what kind of policies that you have.
While you hope that money would never replace you in your loved ones hearts, a large death benefit (Term Life Insurance) amount can go a long way toward keeping groceries on the table, making sure that you don’t lose your house or that dream of a college education for your children.
Term Life Insurance is setup to provide insurance for a set period of time; 1 year term, 10 year term, 15 year term, 20 year term, and 30 year term. The advantage of Term Life Insurance is that it offers the most protection for the least amount of money, especially for younger people.
Although permanent life insurance can be more expensive, it does have its place as it provides life long guarantees, especially for seniors and older Americans. The insurance companies know that when you purchase these policies they will eventually have to pay on those claims.
The main thing to think about when purchasing life insurance is how the insurance money will meet your family’s needs, especially if you were to die before paying off all of your bills. That is why working with an agent can be beneficial. Agents will help determine your true needs with their experience and product knowledge.
Contact Newsad Insurance Services for all of your life insurance needs.
-Tom Newsad
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