Auto insurance. Homeowner’s insurance. Health insurance. These are just a few of the most common types of insurance an individual and family need to go about their everyday life. In fact, some of these types of insurance are required in some states. But what about life insurance? Although life insurance isn’t necessarily required, it’s still a very good idea. Furthermore, life insurance is one of the top personal financial investments an individual should make in their lifetime. However, it’s a sad fact that most individuals go without life insurance until they are in their 50s and 60s, which can make it tougher to find life insurance, especially if you have a rocky medical history or other existing conditions. But this doesn’t mean that you are out of luck; you still have options with American Insure-All®. Read on to learn more about how you can find life insurance with a reputable and professional life insurance company in Woodway.
What is Life Insurance?
A life insurance policy can come in various forms and policy types, depending on the individual’s situation. For example, most insurance policies will dictate that a lump-sum payment, also known as the “death benefit” will be paid to the listed beneficiaries, such as surviving family members or children upon the individual’s death. In exchange for coverage, the individual makes premium payments.
Term vs. Permanent Life Insurance
Some of the most common types of life insurance include term life insurance or permanent life insurance. For example, term life insurance generally provides protection for a specific period of time, while permanent insurance provides lifetime coverage. In addition to coverage, it’s also important for insured individuals to know that death benefits may also come with tax benefits. However, this is something individuals are encouraged to discuss with their accountants or even their insurance agents.
For more information on the different types of life insurance, and to determine which type of life insurance policy is right for you, call American Insure-All® today at (888)411-AUTO to speak with a life insurance company in Woodway.