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Life Insurance

An Update On Life Insurance

Life insurance is a legally binding contract between an insurer and an individual, in which the insurer promises to cover a designated beneficiary an amount of money upon the death of that insured person, for a specified period of time. Life insurance is very important to individuals living under certain types of work situations because if an employee dies while at work, his dependents are usually not paid until his death is certified by a doctor. Many employers offer life insurance benefits as part of the company benefits and employees are expected to purchase this insurance to ensure that they can easily cover the cost of their loved ones’ funeral and other expenses incurred during the life of the insured person, depending on the kind of insurance chosen. There are several different types of life insurance policies available to the individual buyer, which vary according to their needs and the risk and value of the options that are presented to them.Find additional information at Life Insurance.

Term life insurance coverage is one of the most common forms of insurance coverage used by people today. This type of coverage provides the insured party with an amount of money to help defray expenses and provide for dependents if the insured dies during the term of the policy. People may use term insurance coverage to supplement or increase their existing savings or retirement income, depending on how much of the savings or income replacement that the person is able to attain during the lifetime of the policy. The amount of money that the insured individual will receive will depend on the stated amount of savings or income replacement provided by the life insurance policy. The insured party will also be responsible for paying a fee that would be deducted from any remaining money contributed by the insured, at the end of the policy’s term.

Another type of life insurance product is the whole life policy, which is another popular option for insurance buyers. In this type of policy, an individual buys a policy that offers a death benefit, which is calculated according to certain formulas and amounts, as well as a cash surrender value, which serve as the value of the policy for the benefit of the beneficiary or beneficiaries, upon the policy holder’s death. The cash surrender value of a whole life policy is also subject to the increasing trends of the investment’s market. The actual premiums that the insured party pays for this type of insurance product can also vary.

Contact Info

Sarah Atkinson – State Farm Insurance Agent
15061 Springdale St Ste 101, Huntington Beach, CA 92649
(714) 892-3351

Choosing the Right Life Insurance

To this day, life insurance is a very contentious subject. There appears to be a lot of different types of life insurance out there, but there really are just two kinds of life insurance. Term Insurance and Entire Life Insurance are them. Term insurance is insurance only. For a certain period of time, it covers you. Insurance for Entire Life is insurance plus a side account known as cash value. Generally speaking, consumer reports suggest, and have been for some time, term insurance as the most economical alternative. But still in today’s culture, whole-life insurance is the most common. Which one should we purchase?Find additional information at Life Insurance.

Let’s address the meaning of life insurance. If we get the right insurance intent down to a science, then everything else is going to fall into place. The aim of life insurance is the same as that of every other insurance type. It’s about “insure against loss of”. In the event of an accident, auto insurance is supposed to cover your car or someone else’s car. In other words, because you may not be able to pay for the damage on your own, insurance is in place. Insurance for home owners is to protect the home or things in it against damage. So, because you may not be able to pay for a new home, you buy an insurance policy to cover it.

Life insurance is exactly the same. It’s about insuring your life against failure. If you had a family, after you died, it would be hard to help them, so you buy life insurance so that your family could replace your income if anything were to happen to you. Life insurance is not intended to make you or your children prosperous or provide them with a justification to destroy you. Life insurance is not intended to help you retire (or else it would be known as pension insurance)! When you die, life insurance is supposed to cover your wages. But the evil ones made us believe otherwise, so that they could overcharge us and sell us all sorts of other things to get paid.

Contact Info

Phil Borgia – State Farm Insurance Agent
1635 N Greenfield Rd Ste 1-101, Mesa, AZ 85205
(480) 981-8681

Who Can Get Life Insurance?

Life insurance has long been a necessity for many families and individuals, as it offers financial protection in the event of one of these people dying. Life Insurance is simply a contract between an insurer company and an insured individual, in which the insurer agrees to pay out a specific amount of money to an insured individual, usually upon the insured person’s death, for a specified fee. The insurance pays a fixed sum of money to the named beneficiary upon death of the insured person, depending on the type of life insurance, coverage, and/or premium purchased. These policies can be renewed periodically, which makes them very attractive to many individuals and families.

For many people, the death of a loved one brings back memories of past memories – the laughter shared as a family, the shared tears shed, and of course the laughter and celebration of life ahead. Many people want to ensure that their families are able to continue living the lifestyle to which they’ve become accustomed. One way to do this is by purchasing life insurance. The reason why life insurance is so important is because it acts as a loan that is paid back in the event of the insured person’s death. Often, this loan is secured by the life insurance policy of the insured person, which makes it easier to get the necessary cash to make certain necessary repairs, replacements, and other expenses that may arise from the death.

In the event of your death, the life insurance policy will return the premium payments that you’ve made to the insurance company upon termination of the policy and will then take care of any outstanding amounts left unpaid by you. Often times, this means that your loved one will not have to be taken care of financially after you die and may even have extra money to put into his or her name to be used for any number of reasons. It’s important to note that some types of life insurance policies offer the opportunity to leave a child with the family, in the form of a child benefit. This option can come in very handy if the child is young and doesn’t have the financial means to live on his or her own. There are also many different types of policies available that allows the covered person to decide whether or not he or she wants to make changes to the policy during the contract’s term, called the term life of the policy. These options are often taken advantage of by families who want to protect their loved one’s interests right up until the time of his or her passing.

Contact Info

Garris Wilcox – State Farm Insurance Agent
206 S Range Ave, Denham Springs, LA 70726
(225) 664-3336