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Life Insurance

POLICIES

What you need to know about life insurance

If you were to pass away unexpectedly, you would want your family to be financially secure without you. Having a life insurance policy helps to do just that.

An insurance policy for your life is unlike other insurance policies in one big way. Instead of providing benefits to you, it usually provides benefits to someone else after you die. There are some types of policies that provide limited benefits while you are alive, but the main benefit of a life policy is to pay a benefit to your beneficiaries after your death. Who is it for? A life policy can be a good idea for just about anyone, but it is most important for people who have others who are dependent on them financially. That might be a parent, a person with a spouse who doesn’t work or someone who takes care of a vulnerable sibling or parent.

Life policies have a set death benefit and they pay out a lump sum payment to the beneficiary or beneficiaries who are named in the policy after the insured person’s death. In some cases, some policies may provide living benefits to the insured person while he or she is still alive, and if those are used, they are subtracted from the death benefit. Life policies, like other insurance, can have exclusions, which means they won’t pay out if death is caused by certain means, such as suicide.

There are two main types of life insurance: term and permanent. Term policies provide you a set amount of coverage for a set time period, say 30 years. If you pass away within the term period, the policy pays out. If you don’t, the policy expires. Permanent insurance stays in force for as long as you keep up with the premiums. It is further broken down into categories, such as whole life, universal life and variable life.

The major benefit to having a policy from a life insurer is the potential for a payout to your loved ones upon your death.

To learn more about your life insurance options, speak to a pro today!

As a business owner myself, I can say this agency really knows what they’re doing. Competent and kind and I would ayone to them!

Bryan Anderson

I thought I would never find reasonable car insurance until I came across AB insurance and they by far had the best options AND really great agents.

Natalie Connelly

This insurance agency is wonderful. They took the time to review my current policies and coverages and made sure I was aware of ALL of my options and even saved me money! I will be a life long client for sure!

Camila Torres

God-fearing… God loving and honest! This is the type of company you want to work with. Their reputation is reflected in the manner with which they live out their own lives.

 

George Livanos

Mark’s comprehensive knowledge of the market, coupled with his calm, steady demeanor, made all the difference for me, when I was shopping for health insurance.

 

Michael Monroe

Mark made it possible for me to continue doing my artwork for a living by giving me an affordable option to my health insurance needs.

Edward Masrtin

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