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Life Insurance

Life Insurance Information

No one likes thinking about their own death. But planning for your final days is a fact of life. This is especially true if you have a family. When you die, your loved ones will no longer have access to your income or the support you provided. Life insurance is one of the most important steps you can take to protect their loved ones from financial hardships.

Having life insurance means the insurance company pays benefits to your loved ones upon your death. Some events the insurance company will not pay out on. Suicide is usually on the list of events that insurance will not cover. So if you commit suicide, your life insurance policy becomes void.

In many cases, this coverage provides a spouse and dependents with cash to pay off debts. Any remaining funds can pay funeral expenses, send kids to school, etc…

The two main types of life insurance are term and whole life. With a term policy, the coverage remains active until the end of the term. A term can be 15, 20 and 30 years or more. At the end of the term, the coverage ends and no benefits are available. Whole life is a more expensive, but it lasts throughout your life as long as you pay the premiums.

You are probably uncertain about how much coverage you need. You might not even know which type of coverage is best. It is important to speak with an insurance agent. An agent can help you determine exactly how much and what type of coverage is best for you.