Whether you’re in your early 30s or late 60s, life insurance is a great asset to keep your family safe. It’s important to secure the stability of your loved ones when you pass away. If you’re ready to start making a life insurance plan, don’t hesitate. Insurance Quotes Salt Lake is here to help. If you’re ready to learn more about our insurance products, feel free to ask. Our life insurance agents are ready to bring high-quality life insurance to Midvale, UT.
How Does Life Insurance Work?
Much like other types of insurance, life insurance is an agreement between the client and the insurance provider. The insurance company requires you to consistently pay a premium and in return they’ll return a set amount of money to those listed on your insurance policy when you pass away.
Term, Whole and Universal Life Insurance
When you come to Insurance Quotes Salt Lake, our professionals will help you choose between three kinds of insurance: term, whole and universal. We’ll help you determine which is best for you based on your financial situation, lifestyle and long-term goals. Here’s the difference between the three:
- Term Life Insurance: This type of insurance only requires you to send in money for a predetermined, set period of time. The payment to your heirs only lasts for this set period of time.
- Whole Life Insurance: This policy is guaranteed to stay in effect for the policy holder’s lifetime. As with all types of insurance, the required premiums must be paid.
- Universal Life Insurance: Any excess premium payments that exceed the current cost of insurance can be credited as cash value.
Depending on your lifestyle, every type of insurance has advantages and disadvantages. That’s why it’s best to collaborate with an insurance agent before deciding which type of insurance is best for you.
Why You Need Life Insurance
Determining what type of life insurance is an important decision for you and your loved ones. No matter what life insurance you decide to choose, it’s an important step. Here’s why you need life insurance:
- Life insurance will eliminate funeral expenses.
- The costs and needs of children who still live at home will be covered.
- Any outstanding debts can be settled.
Contact Insurance Quotes Salt Lake Today
Life insurance is a smart and safe investment. Find out more by contacting Insurance Quotes today. We’ll even give you a free life insurance quote.