Life Insurance

Life Insurance – Protection for your Family

Buying life insurance is important for your family’s future. It ensures your beneficiaries receive money upon your death. This money can take care of burial expenses and other expenses. As long as you pay the premium, the policy remains active. Think of the monthly premium as a guarantee and contract that the insurance company will pay your beneficiaries in the event of your death. If you quit paying your premiums, then the policy lapses and there is no payout when you die.

If you have a family that depends on you financially, then life insurance is a necessity. It can be an investment, where you use the insurance to grow capital. This is whole life insurance that gains interest until the benefits are paid.

Life insurance is confusing, so be sure to look over the policy carefully. Know what you are getting and your premium. The insurance company will determine price based upon information such as your age, health history, and lifestyle.

When you die, the company will receive proof of your death and then pay the claim. The payment will be a lump sum or installment payment to your beneficiary.

The choices in life insurance include term, while life, universal life, and variable life. An insurance agent will be able to determine which policy is right for your needs.