Shopping for life insurance may not be the most fun item on your to-do list, but it may be one of the most important. That’s because the primary role of life insurance is to provide funds for your loved ones upon your death.Life insurance is a great way to ensure that those you leave behind will be protected financially.
Owens Insurance Agency is a trusted insurance agency in Morehead, Kentucky. Our team of agents knows that planning for your death is not an easy task. We’re here to help you every step of the way. Give our team a call at 800-256-3575today to get started.
What Policy Options Exist?
Everyone has different life insurance needs. In most cases, you’ll be able to choose from either a whole life or term life policy
Term Life Insurance
Just as its name implies, term life insurance covers you for a specific period of time, or term, that you choose. Since it offers a death benefit but no cash value, term life insurance is an inexpensive way to protect your beneficiaries for a specified time.
Renewal term life insurance can be renewed at the end of the term, at the option of the policyholder and without evidence of insurability, for a limited number of successive terms. It can also be converted or exchanged for a permanent insurance policy without evidence of insurability down the road. It’s important to note that rates generally increase along with the insured’s age.
Whole Life Insurance
Permanent life insurance is any form of life insurance other than term. Examples of permanent life insurance includewhole life, universal life and variable life. These policies combine term life insurance with a long-term, tax-sheltered savings plan.
Whole life is the most basic type of permanent life insurance. It provides coverage that lasts a lifetime and also builds up a cash value that you can borrow against, withdraw or use to pay future premiums.
Why Get Covered Now?
Having life insurance coverage is critical no matter where you are in life. However, the earlier you get a policy, the more beneficial you will likely find it.
The longer you keep coverage, the more chance you have to let your policy accumulate value.
Younger individuals often qualify for lower policy premiums.
Life insurance provides incredible value and assistance to your survivors. Your insurance policy will prove instrumental in assisting them after your passing.
Contact Us Today
Don’t hesitate to get covered. Contact us today at800-256-3575 to learn about your coverage options.