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