Most people aren’t fully aware of the benefits of life insurance and how it’s more to protect your loved ones from having to pay out of pocket for expenses in the event of your death. Life insurance can seem complicated and there are a lot of options to go over. Here we will only discuss the differences between whole and term life insurance policies. Let’s look at whole life insurance first.
Read MoreWe all know that when we move we have to let our insurance companies know and see how that will affect our rates. But, have you ever stopped to wonder why this is? Well, we’re going to break it down for you a little here. Let’s first look at homeowner’s insurance policies.
Homeowners: This can vary state by state due to how prone your area is to natural disasters and environmental risks. For example, if you live in Kansas versus New Jersey you will have to get a policy that specifically covers this type of high-risk disaster. Here are some things that will affect how much your homeowner’s coverage costs.
Read MoreLife insurance can seem mysterious to a lot of people. How does it work? What do these strange terms mean? While we’re not going to write an extensive article on exactly what each policy type is and what every term definition is, we will give you a quick top terms to understand. Here are a few:
Beneficiary: the recipient of a life insurance policy’s death benefit. Can be one person or several. It can also be an organization. Usually the main reason people buy coverage is to cover family when they’re gone. The beneficiary must file a claim in order to receive the benefit.
Not only does life insurance protect your loved ones in the unforeseen event of death, it can create generational wealth where there was none. Here are just a few ways that life insurance can help your family for generations to come.
Cover estate taxes