Demystify Life Insurance With This Guide!

Get the coverage and demystify the complexities of life insurance with this guide!

Protect your loved ones with life insurance. However, with so many different types of policies and coverage, it can be difficult to know what type of policy is best for you. Demystify the world of life insurance with this guide to the life insurance basics.

What is life insurance?

Life insurance is an agreement between the policyholder and the insurance company. In exchange for regular payments, the insurance company provides your designated beneficiaries with money. This financial benefit helps relieve financial burdens for your family after your passing. The value of the benefits is determined by your type of policy.

Who needs life insurance?

Life insurance is for everyone. Whether you’re newly married or a retiree, you need life insurance. It provides your loved ones with the coverage they need to cover any financial responsibilities that you leave behind.

What types of policies are available?

There are two main categories of life insurance. Term life insurance gives you coverage for a set period of time, whereas permanent insurance gives you life-long coverage. There are several different types of policies within each category that differ in the coverage that they provide as well as the cost. Term policies are generally more affordable than permanent policies.

How much coverage do I need?

The amount of coverage that you need depends on your lifestyle. You may need more coverage. You may need less coverage. If you’re a parent with dependents, you likely will need more coverage to meet the needs of your fiscal responsibilities. However, as a retiree, you may no longer have dependents, and you may just want coverage for your afterlife expenses. It’s best to decide what meets your current needs. After all, you can always make changes as time passes.

Ensure that you get the right life insurance. Contact the professionals at Robert J. Los Insurance Agency to find you the right insurance. Located in Hamburg, New York, we serve all your personal and commercial insurance needs.