Life Insurance
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Life Insurance Information
Life Insurance
Serving Missouri, Illinois, Ohio, Indiana & Wisconsin
Having a life insurance policy is essential. When you’re no longer around to financially support your loved ones, your life insurance policy can step in and assist with covering substantial costs like bills and college tuition. Having life insurance can bring you peace of mind knowing your family members will be financially protected following your passing.
What Is Life Insurance?
Life insurance policies assist your loved ones with financial needs upon your passing. Depending on how much you pay for your life insurance policy premium, your beneficiary will receive a designated amount of money following your death. Your selected beneficiary can use the money for whatever they might need it for, but paying for funeral expenses, tuition and covering bills, are some common uses for the money.
What Are the Types of Life Insurance?
Although life insurance policies might vary in some ways, the following are two common life insurance policy choices:
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Term life insurance plans last a set number of years. Coverage will issue payment if you die during the term.
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Whole-life insurance policies remain active indefinitely as long as you pay your premiums. Many offer cash accumulation and interest benefits.
To learn more about life insurance policy options, be sure to reach out to our agency today to figure out which option might be the best one for you and your loved ones.
How Many Life Insurance Policies Can I Have?
There are no laws about the number of life insurance policies you can purchase, and no restrictions on the amount of life insurance you can have, so long as an insurance company will issue the policy.
Many people buy life insurance at a young age to help access lower premiums. As their need for life insurance changes, they may purchase additional policies to increase their total death benefit.
If you already have life insurance coverage but want a larger death benefit, contact your agent today to discuss your options.
How Much Life Insurance Should You Have?
The amount of life insurance you need depends on your situation. Your budget for life insurance premiums, the type of coverage you need, the reason you want life insurance, your financial obligations and even the size of your family all affect how much life insurance coverage may be appropriate.
Talk with your agent to determine exactly how much life insurance coverage is right for you.
How Much Life Insurance Do I Need at 60?
Depending on your situation, you may need less life insurance at 60 than you did if you were responsible for the financial support or care of children in your younger years. Many people find that their need for life insurance decreases as their financial responsibilities lessen.
Of course, there’s no one-size-fits-all answer to how much life insurance you need at any age. Your agent can help you determine how much life insurance you need at any stage.
Why Get Covered Now?
Having life insurance coverage is critical no matter where you are in life. However, the earlier you get a policy, the more beneficial you likely will find it.
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The longer you keep coverage, the more your policy may accumulate value.
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Younger individuals often qualify for lower policy premiums.
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The healthier you are, the better your qualifications for a policy. Don’t risk waiting until your health begins to decline.
Life insurance provides incredible value and assistance to your survivors. Your insurance policy will be instrumental in assisting them after your passing. When it comes to your loved ones, nothing is more important than assuring they’re cared for when you’re no longer able to do so.
Learn More
Cloverleaf Insurance is here to help. If you live near St. Peters, Missouri, our experienced agents can assist you in educating yourself on life insurance coverage so that you can make the best decision on a policy for you and your loved ones.
To learn more, contact us today at 800-530-5822.
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