Best Insurance Services
Mar 31, 2015
Life insurance protects your family and provides you with peace of mind, but choosing the best policy can be confusing. The policy you need will depend on your specific lifestyle, financial situation, and more. Keep reading to learn more about your life insurance options.
Ask yourself the following questions when deciding how much life insurance to get:
Because life is constantly changing, you’ll need to periodically reevaluate your current life insurance policy. You should take another look at your policy if:
Insurance company representatives can help you evaluate your new situation and choose a policy that meets your current needs.
There are two main options when choosing life insurance: term life insurance and whole life insurance.
Term Life Insurance
Term life insurance is in place for a fixed time period. If you choose a 15-year policy, your coverage will end when those 15 years are up. Term life policies have lower premiums than whole life policies because term policies are designed to protect younger people with low incomes. Someone with young children, a mortgage, and few assets may be best served by term life insurance.
Whole Life Insurance
Whole life insurance policies never expire. The coverage lasts until your death—no matter when it occurs. The premiums for whole life insurance policies are higher because it is guaranteed that the insurance company will have to pay out. Whole life insurance policies also have added benefits such as cash accumulation that makes money available before your death through loans or withdrawals. Someone with substantial savings, few financial obligations, and independent children may be best off with a whole life insurance policy.
Make sure your family is protected. An insurance agent can help you find a policy that suits your lifestyle and needs. For a free quote, contact Best Insurance today.
23940-A Ironwood Ave
Moreno Valley, CA 92557
9AM - 7PM Mon - Fri
10AM - 4PM Sat