When purchasing life insurance and feeling secure about the company is very important that's why the carriers I represent have above average, or excellent ratings according to A.M. Best rating services. That way you can be assured you will be well taken care of if you need to file a claim. Many life insurance companies offer a wide range of policy types like term, permanent, or accidental death insurance.
With term insurance usually a less expensive option the policy will cease after a specific term like 10 years, 15 years, 20 years, or 30 years unless renewed usually with a very large increase in premiums on an annual basis. A return of premium rider maybe an option for an additional cost that will allow you to receive back some or all of the premium paid into the policy. Also, other riders maybe added to the policy like accelerated death benefit, critical illness, child rider, or waiver of premium, etc.
On the other hand, there's permanent life insurance like whole life that's fully medically underwritten and will continue a lifetime, and then there's final expense a type of whole life for seniors usually between the ages of 40-85 depending on the insurance company and can be guaranteed issue, simplified issue, or a graded death benefit policy, these types of policies tend to ease the medical underwriting process Another permanent life insurance policy is universal life, similar to whole life it can last a lifetime without ceasing if the target premium is met. Both whole life and universal life insurance policies builds cash value over the years and can be withdrawn if the need arises. Like term, to enhance the policy riders can be added at purchase.
Finally, accidental death & dismemberment benefit insurance maybe a good fit for you to protect your family and investments if death occurs due to an accident. Accidental death insurance is a term policy.
To get specific information about carriers and life insurance available in your state please contact us for a free and no obligation quote.
Kevin Oliver Insurance Agency, LLC