Rigel Hines and Associates Blog
Life is tough, and as you grow old, you start to think more about the welfare of your loved ones. You might be thinking of buying life insurance to help your loved ones in the event of your death. Here are some things to help you know more about life insurance and why you should consider buying one.
Who Needs Life Insurance
Once you become a parent, the rule of the thumb is that any earning adult in your house should have life insurance coverage.If you have any financial obligations like mortgage, a life insurance plan can help you in covering your debt.
However, you should also know if you qualify. Most plans ask you to undergo a medical exam. Prior to issuing you the policy, the insurance company will also check your:
Several factors such as smoking, age, and prior health issues can also drive the premiums on the insurance plan.
Types of Life Insurance
There are 2 types of insurance:
- Builds cash value
- Permanent insurance protection
- Level premiums
- Loans are permitted against the policy
There are three basic kinds of permanent insurance: whole life, variable life, and universal life.
Tips to Consider:
Having a life insurance plan can help provide you peace of mind while you live. It gives your family the protection that they need in the event of your death. With a life insurance plan, you can live your life to the fullest and ensuring the future of your primary asset, your family.
At Rigel Hines and Associates, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (708) 283-7316 or Click Here to request a free quote.
Phone: (708) 283-7316