Life insurance can be an emotional subject. Nobody likes to think of their demise, or the death of their spouse or family member; however, death happens to everyone. A death is sad and sometimes a shock, but it's a wise idea to be prepared for it so that your family can continue after the loss. Whether this means staying in the home, having income to live, or simply being able to have a funeral, life insurance is an important part of living responsibly.
Unfortunately, all of the above factors can result in death. Whether you are young or old, an accident or simple medical problem can claim your life. It's important to have life insurance in place so that when you pass away, your family can have peace of mind that their financial picture won't change.
There are many types of life insurance available to Idaho residents. It's a wise idea to be familiar with the different types of policies available so you can choose the one that's the best for you and your family. The most common types of life insurance available are:
These are the two most common types of life insurance policies available. Age and health are typically taken into consideration when these policies are created, so it's important to get them in place as soon as possible while you are still young.
There are additional life insurance policies available, and while they are not the most popular choices, they may be right for you. There are many other life policy options available, depending on what you're looking for and the insurance agency you choose to work with. Additional policies include the following:
Life insurance rate quotes vary based on a myriad of factors, including the type of policy you choose. When shopping for life insurance, you will be asked a series of questions before a quote is given by the insurance company. In order to have the information available, be sure to familiarize yourself with the following:
Typically, you will need a medical exam before being approved for a life insurance policy. This exam includes basic medical information and a simple blood draw. There are some no-exam options, but the quotes for these policies are typically higher. The reason for these higher rates is that the insurance company assumes more risk when they don't know up-front what the insured's health and medical status is. Keep that in mind when you consider whether or not you're open to having a medical exam before getting quotes.
When trying to decide how much life insurance you need, consider the following:
All of these factors come into play when deciding which type of life insurance to purchase.
Just like many other types of insurance policies, there are discounts available on life insurance policies. Discounts may include:
There are many other discounts available, depending on the type of policy you choose. Always ask your insurance agent for any discounts you may not be aware of.
With so many policies and coverages available, it's easy to get confused when it comes to choosing a life insurance policy. That's why it's important to have an insurance professional by your side. A Trusted Choice® agent is always available to help answer questions, provide coverage recommendations, or even help you file a claim. Find an agent near you for more information.