3 FAQs Regarding Life Insurance

​You might be convinced of some ads that claim you can protect your family with only a few dollars a day. It’s a great deal, but are you completely aware of the ground rules for life insurance? You can start by asking these three questions.

1. Why Do I Want Life Insurance?
Before purchasing life insurance, think about the reasons why you’re getting it in the first place. Is it out of family protection in case of untimely and early death? Do you have additional debts that need payment? Are you planning on leaving an inheritance to a specific organization for charity? If you’re purchasing insurance to financially cover the particular obligations that you might have been handling for years, then getting permanent life insurance is the ideal solution. However, if you require immediate coverage for your family, lenders or term insurance offers solutions for the short-term.

2. What are the Available Coverages?

• Group Life Insurance
  Companies today provide term life insurance to their employees as an additional benefit of getting hired. Another term for it is the group term insurance – where you are granted protection for being included in a larger group. Typically, the pay for the coverage is deducted from your earnings, with the only requirement being a questionnaire that entails your health history.
  
  
• Individual Life Insurance
  As the name itself implies, this is where you apply for self-coverage, which can also be owned by a close family member. Requirements for an individual policy are results of a medical exam, detailed documents of your medical history, and permission for the insurance company to sift through your medical records along with background checks on offenses relating to your driving or any crime. Although a little invasive, having an individual life insurance policy has impressive benefits.

3. Where Do I Buy an Insurance Policy?
Several companies offer a term insurance policy. However, if you want a more personal experience, you can opt for asking advice from a professional. Insurance agents will give you a head start on the various types of insurance plans and have all the answers to the questions you might ask along the way. You can find one by researching websites of any major company.

Now that there are answers to your questions, you can finally decide if the ad you saw is enough to provide for your family. If not, then you can opt for several other policies that will give you peace and ease.

At Klamath Insurance Center, Inc., we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (541) 882-5555. Get your free quote today by CLICKING HERE.