The sudden loss of a loved one can be difficult enough to bear without having to face financial difficulties as well due to loss of income. Life insurance can help alleviate stress by providing financial support for your family after you’re gone. Here’s how life insurance from AS Insurance Agency can protect those you love.
Life Insurance Options
Life policies can be purchased for a certain time frame (term life) or for life (whole life).
Term life policies are practical, affordable and capable of meeting most people’s financial needs. Coverage can range from five to 30 years. You specify the length of coverage when purchasing your policy. If you have children, you may want insurance protection during their childhood when they would need financial support the most if you were to suddenly pass on.
Whole life insurance lasts from the day of purchase until your demise. It’s more expensive than term life and accrues cash value over the years. Upon your demise, your beneficiary can collect benefits and the extra cash value of your policy. You can also borrow from the cash value of your policy anytime you have needed during your coverage.
After selecting a life policy, you’ll need to decide how much coverage to obtain. Factors like your age, health, income, outstanding debts, number of dependents and objective for buying all play a role in deciding your coverage. Life benefits can be used to replace lost income, pay off a mortgage or help put your kids through college. Your coverage should fulfill your goal in protecting those you love.
Life insurance is cheaper to buy when you’re young and healthy. As you age, you can expect to pay more for your coverage, especially if you develop health issues over the years.
For more information about life insurance policies and costs, call or visit AS Insurance Agency.
While our offices are in New Hampshire, Ohio, Pennsylvania, and Tennessee, we can serve clients in multiple other states as well.