Important Things You Need To Know About Life Insurance

Below are just some of the important things you really need to know about life insurance:

  • Life insurance is considered one of the pillars of personal finance.
    It really deserves the consideration of every household!

  • If anybody relies on you financially, you absolutely need life insurance with yourself listed as the insured and with your dependents as the beneficiaries. That is especially important if you are the parent of dependent children. Or if your spouse depends on you for your income. There are many other examples of when you really should have life insurance. However, I am not going to go into that topic today of who you else you should cover as the insured, or who you should list as your beneficiaries in this particular blog post. 

  • A Life insurance policy is a contract between a life insurance company and a person or sometimes “something” (for example: a trust or company). Be sure to read the entire policy and understand it before signing or at very least before the free look trial period expires.

  • Life insurance doesn’t determine or assign somebody a monetary value of their life.
    However, life insurance does help compensate for the unavoidable consequences that accompany the loss of life. It helps those left behind to cover outstanding debts, final expenses (such as burial and funeral expenses), mortgage payments, educational expenses (such as college for dependent children), and the loss of income from the person that was insured.

  • The primary roles in a life insurance policy:
    • The Insurer (The insurance company that is responsible for paying the claims.)
    • The Owner of the policy. (Responsible for the premium payments and able to make some revisions to the policy, such as changes of the beneficiaries, etc.)
    • The Insured (Person on who the life insurance policy is based on. If that insured person passes away, the death benefit claim is paid to the beneficiaries.)
    • The beneficiary or beneficiaries. (The person or persons, trust, or other entity that receives the death benefit claim in case of when the insured dies.)

  • Two Main Types of Life Insurance: See blog post Types of Life Insurance
    • Term (Temporary) Life Insurance 
    • Permanent Life Insurance (Universal Life or Whole Life)

  • Consider an independent agent to help you with life insurance decision making and to shop for the best prices. Life Insurance - Why Choose Independent Agents?

Please take a few seconds to read what my actual clients have to say about my personalized service in their own words by clicking this link. Insurance Agents Reviews

Note: Life Insurance information can be confusing to many people. As an "independent licensed agent" I can explain things to you in simple terms so you feel comfortable making a decision. Then I can help you choose a life insurance policy, from many choices of different insurance companies, that you feel fits your needs. Plus if you choose to work with me you will have personalized service by a local agent that can shop premium quotes for you. If you would like my assistance to discuss and/or start the process of getting you insured please call me at 941-404-5334.