Here’s what you should understand about life insurance coverage.
Life insurance is a policy that many people can benefit from, but that many overlook. It can seem like a daunting and confusing type of policy to purchase, which is why many forget about securing it. Fortunately, we have got the low-down on what you need to know, helping you to understand more about life insurance so you can find the right coverage.
There are different types of life insurance. In addition to employment-based life insurance, there is term and permanent life insurance. Term insurance is set for a period of time, such as 10 or 30 years. Permanent coverage lasts your entire life and builds cash value. Which policy is right for you will depend on your unique situation.
You may need more coverage than you think. Sometimes, people think that life insurance is to pay off their own debts and funeral expenses. But a key advantage of having life insurance is to ensure that your loved ones will be okay with their ongoing and future financial demands if something happens to you.
Life insurance is surprisingly affordable. Although there are policies that get pricier the more features you add on to it, life insurance tends to be more affordable than people think. Most think that life insurance costs around three times as much as it really does. Talk to your insurer about how to secure a reliable, affordable policy – you may be surprised at the cost!
If you are unsure about how to get started on your life insurance policy, talk to the professionals at Lou Aggetta Insurance Services in Pleasant Hill. Our experts are ready and waiting to help you determine your life insurance needs and explain how a policy can protect your finances. Give us a call today to get started!