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How affordable is life insurance?



A life insurance policy may be cheaper than you think. The life insurance cost is calculated on your age and state of health. If you are married, have children or have a mortgage, your family must be protected. If you die unexpectedly, the death benefit will allow your loved ones to have the finances to survive a very challenging time.

What does life insurance cost?

The cost of a life insurance policy depends on the type of insurance you purchase. You have two general options:

  • Term Life Insurance: These are the most affordable insurances. You pay a fixed premium per month for the life of the insurance, which can be 5, 1
    0, 15, 20 or 30 years. For young families, a term life insurance is often most meaningful, as these insurances cost less than the entire life insurance. Later, a period policy can be transformed into an entire life policy.
  • Whole Life Insurance (Permanent Life Insurance): Whole Life Insurance provides coverage during your lifetime, will pay your beneficiaries when you die and accumulate value over works as a type of savings or investment account. Payments are higher, but these insurances have benefits, including loans from the insurance if needed.

How much life insurance do you need?

In general, a life insurance policy should pay out ten to twenty times your annual income. The death benefit will provide your loved ones with financial support for income, as well as the cost of educating children, paying bills and other expenses. If you die without life insurance, your loved ones could be in serious financial trouble. Calculate how much insurance to buy based on your individual needs and your budget.

How to choose the best life insurance policy

It can be stressful to try to find a life insurance policy without help. You deserve to protect your loved ones with a policy that is both affordable and pays the highest possible death benefit. Instead of searching for an online policy, meet with a qualified agent who has access to the best insurance companies and rates. Premium cost is always a problem, and our agent will help you find an affordable policy. For a young person, a lifelong life insurance policy with a decent death benefit can be as low as $ 20 to $ 30 a month. In addition, the death benefit is not considered taxable income, with a few exceptions. When a person dies suddenly, the estate may take some time to resolve. The insurance payment, when the recipient is an individual, not the estate, can be paid out quickly, helping your family not to face financial difficulties during the will.

Get help from a qualified agent

You want the best deal for your life insurance. Take advantage of the knowledge and experience of one of our local agents, who will work close to you to find the perfect policy to protect your family, as well as one that fits your budget.


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