Life insurance can be bought in many different capacities and options. There are many different types of life insurance policies that can be purchased. Life insurance is sold by insurance companies, and each company offers different variations of products available on the insurance market today. Each company can set its rules of contract, but needs to have its products that are offered approved by the insurance commissioner’s office in each state they offer the policy. You as the consumer have many different options when it comes to life insurance and could be overwhelmed by the possibilities available. We at Healthcare American are life insurance brokers. Our job is to fit the customer with the right coverage for their individual unique situation.
Life insurance is about one of the most important things you can buy for a loved one. You buy life insurance, not for yourself, but for a person you care enough about, to ensure they will be okay when you are not around.
We at Healthcare American are trying to make it simple to understand what you as an individual might need when it comes to purchasing life insurance.
Here is a brief explanation of what life insurance does, and how it typically works. Life insurance is a contract between a policy owner and the insurance company. This contract in simple terms promises both parties will fulfill their end of the contract. The policy owner will pay a premium, and the insurance company will promise that if the person dies, according to the contracts agreement, the insurance company will pay a beneficiary a death benefit. This benefit will be according to what the contract states. The insurance company might also have offered, usually, at the time of the initial contract, other benefits that may cost an additional premium to be added to the policy, these benefits are called riders.
Some insurance contracts are simple, like term life insurance. In a term insurance life policy, a policy owner makes a contract with the insurance company that if the person that is being insured dies within the term period stated in the contract, the insurance company will pay the beneficiary stated in the contract, a death benefit. The death benefit is determined by what was purchased, and what is stated in the life insurance contract. While term insurance is a great option for some, there are many different types of life insurance available, and term is only one of them. On our website, we have listed many of the different types of life insurance policies that are available.
How and Where to Get the Best Premium Quotes on All Types of Life Insurance Coverage
Without life insurance, hard-earned assets and savings that were intended for other purposes may have to be used for paying off debt, funding living costs, or paying the high cost of one’s final expenses – which today can average more than $10,000 in some areas.
Getting a set of quotes on life insurance is simple. Give us a call, and we will be happy to have an agent working with you on building a formula, to decide the best type of coverage that will fit your personal individual needs.
In the past, there were only a few types of life insurance policies to choose from; however, as time has passed, many insurers have added to their array of product options. This has allowed individuals and families to find coverage that is best for them and their budgets. Ultimately, you need to decide which type of life insurance policy is best for your needs. Understanding how each one works will make sure you make the right decision. With all of the many types of life insurance and carriers to choose from today, it can help to have an ally on your side that can help you choose the coverage that will fit your individualized needs. Contact us today!