Klamath Insurance Center, Inc Blog
There are many uncertainties in life, and one of them is the time of your death. You will never know when your time on earth will end. For this reason, you need to prepare yourself for such uncertainties. This is what a life insurance policy does. It prepares you and your family financially for untimely deaths or unfortunate accidents.
But buying life insurance can be tricky. There is a vast pool of insurance providers that offer different plans, which becomes confusing. Life insurance is a significant investment. So you need to take your time when choosing a policy that will protect you and your loved ones. Ask these questions of your insurance provider for better decisions
How Much Does It Cost?
Most people think of life insurance as an additional expense for them. Cost is one of the many factors that can hold people back from buying life insurance. Chris Huntley, President of Huntley Wealth & Insurance Services, has something to say about this. "When the going gets tough, and life becomes difficult, people stop paying their life insurance."
By choosing an affordable insurance policy, you can still pay for the premiums. If ever you make severe budget cuts. Huntley recommends buying an insurance policy that you can afford to pay long-term.
The coverage and the amount of protection will vary from one insurance company to another. Most policies will fall under two types of term insurance: group or individual. The former is usually offered to employees as part of their benefits. But, the latter is applied for by an individual for their protection or of their family.
Before signing the insurance policy, make sure you understand what's covered and not covered.
Will I Receive Immediate Payments?
This is not a guarantee. Because, in most instances, there is a two or three-year waiting period after purchase before the whole proceeds are paid out after death. If you are looking for coverage that starts right away, it is unlikely.
Huntley recommends ensuring that the insurance provider will pay 100% of the "face value" from the first day if possible.
These are just three questions that need to be answered when looking for a life insurance policy. Getting answers to these concerns is a good starting point. To help decide which insurance policy is right for you.
Life insurance is not something you should not scoff about buying. It may be a considerable expense, but it can be something valuable to protect you and your family in the long run. Your life is important to us.
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.