Things to Know About Life Insurance 

While talking about life insurance can be complicated and uneasy, it can pay off for you and your loved ones in the long run. Life is full of the unexpected, so it’s better to be prepared. So, you may be asking: “What is life insurance and why do I need it?” 
Life insurance is similar to other insurance services such as auto or dental. Like most insurances, life insurance is a contract between the insurance provider and the policy owner. This type of insurance can be used to protect your financial investments and loved ones in the case of early death. There are many life insurance policies that providers offer, so it’s important to go over your options with the provider of your choice. However, if you are considering life insurance, you shouldn’t wait too long. The longer you wait, the more expensive it becomes.

Finding the Right Plan for You

While there aren’t many reasons you would need life insurance, there is a fair list of reasons why you might want it. In most cases, people choose to purchase life insurance because it can provide financial relief to their families and loved ones if they pass away. It is important to know the two (2) types of life insurance plans to find the best one for you. Take a closer look at the two (2) categories to better understand the benefits and coverage options: 

  • Term life insurance, also known as “pure” life insurance, is between a set time period. Depending on your provider, it can be anywhere from 10 to 30 years long. It’s a simple and affordable option for those who want the reassurance of their beneficiaries getting a payout if they pass away in that period of time.
  • Whole life insurance, also known as “permanent” life insurance, is in effect for your entire life. A portion of the premiums you pay each month will go into your policy, which grows over time. Depending on your provider, certain types of whole life insurance can also have an investment component that allows policyholders to accumulate a cash value. 

Why you can Trust Fabian Ramirez

It’s an uneasy topic that most don’t think about, but you’re already off to a good start by looking into your life insurance options. Fabian Ramirez offers solutions to help you and your loved ones with things that aren’t even thought about, such as how to pay off your loans, pay for your funeral or even replace your income for your family so they can grieve without needing to worry about finances. Enjoy the convenience of a local insurance provider who puts your insurance needs a priority.