What is life insurance and what can it do for me?
Life insurance can provide financial protection for your loved ones when you pass away and be an important part of your overall financial strategy. Our carriers offer all types of customizable policies with tax benefits to help you protect your financial future, provide for your loved ones and possibly even add to your retirement income.
How do I get a life insurance policy in Redding?
The following are the typical steps of getting life insurance coverage:
- Submit an application for insurance with the necessary information about you.
- Your application is reviewed and the company evaluates your health, family history and medical condition.
- Upon approval, if you meet the insurance carrier’s guidelines, you can get coverage at a specific premium rate.
- Accept the premium and offer, completing the appropriate paper work and medical exams, if necessary, and making a premium payment.
- Enjoy peace of mind. You have a time period (usually 10 or so days after delivery of the policy, depending on your state) to cancel the policy and get your money back.
About Term Life Insurance
A term life policy covers you for a specific period of time that you need it for (for instance, ten, twenty or thirty years). If you die during the chosen term period, the person you named as beneficiary when you bought your policy is paid the coverage amount. If you don’t die during the specified term period, your coverage simply ends. Term life generally does not grow in cash value nor does it include any features related to cash value.
Watch this video for some more info about Term Life Insurance from one of our carriers, Transamerica.
https://youtube.com/watch?v=m37Kja3C90g
Permanent Life Insurance (Whole Life Insurance or Universal Life Insurance)
Permanent life insurance comes in two basic forms?whole life and universal life. Both forms are intended to provide coverage for as long as you live, provided you make your payments as described in your policy.
Watch this video from Transamerica about universal life insurance:
https://www.youtube.com/watch?v=mjhZ561uOCg
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