What is life insurance

No one really wants to think about life insurance. But if someone depends on you financially, its wise to get a coverage that protect your loved ones financially. Getting life insurance doesn’t have to be hard (or boring). We have answers to common questions about life insurance so that you can make informed decisions about protecting your loved ones financially.

What does life insurance cover?

Life insurance can help you pay:

Immediate expenses like funeral and burial costs, medical expenses, mortgage or rent, car loans, credit card debt, taxes, or estate settlement costs

Ongoing expenses like food, housing, utilities, transportation, health care and insurance, or continue a family business

Future expenses like college costs or retirement

Do I need life insurance? 

if someone depends on you financially, you likely need life insurance.

Life insurance provides cash to your family or loved ones after your death. This cash, known as the death benefit, replaces your income and the many non-paid ways you support your household. The money can help pay for expenses like funeral costs, a mortgage, college tuition and more.

Just a few examples of people who often find they need life insurance include: married or partnered couples, those with kids, single parents, stay-at-home parents, empty nesters, retirees, and business owners.

What are the different types  insurance?

Term life insurance 

provides protection for a specific period of time (the term), often 10, 20 or 30 years. It makes sense when you need protection for a specific amount of time–for instance, until your kids graduate or your mortgage is paid off.

It typically offers the most amount of coverage for the lowest initial premium and is often a good choice for those on a tighter budget.

Permanent life insurance 

provides lifelong protection for as long as you pay the premiums. It also accumulates cash value on a tax-deferred basis, which you can tap into to buy a home, supplement your retirement income, cover an emergency expense and more.

Because of these additional benefits, initial premiums are higher than what you’d pay for a term policy with the same amount of coverage.

Non Medical Life insurance

This is a life insurance need no medical (no urine or blood)required to get coverage. This type of life insurance preferred by people with medical conditions that prevent them from getting a regular coverage. Getting a non-medical coverage is made easy and fast to get approved.