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FAQ About Life Insurance

Daniel Fenu Daniel Fenu , 7/18/2018
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Q: What types of life insurance are there?

A: There are two basic types of life insurance the first is term life insurance. This insurance costs a specific amount to purchase, and it is for a set amount of time. This means that as long as you pay the premium, you will be covered in the event that you die. Your beneficiaries will receive the amount that you signed up for. Once the term ends, the policy ends as well. Whole life insurance is quite similar. The major difference is that you can draw from this account. It is actually like a savings account and life insurance policy all rolled into one. The other major difference is the cost. Whole life insurance typically costs more in premiums, but you are able to use that money in the future. Term life insurance simply gives out the money upon the death of the covered individual.

Q: Do I need life insurance?

A: The answer to this is simple. You need life insurance if you have a family. It is morbid to think about this, but someone is going to need to pay for your funeral. Add in the cost of living increases each year and the other daily expenses, and your family will need that money. Remember that you are not going to be there to help provide for your family financially, so you should take the necessary steps to cover them before you die.

Q: How much life insurance do I need?

A: This will depend on your current financial status. Most policyholders like to get enough life insurance so that their family will no longer have any bills. This usually includes enough to pay off the mortgage, vehicles, credit card debt, and any other expenses. You may also want to think about the cost of college for your children, weddings, and vacations. Some people increase the amount they really need to cover all of the bills. The best idea is to get as much insurance as you can afford. Your family loves you a great deal now, and you can give them financial freedom upon your death.

Q: Can I get a free quote?

A: You can get a free quote from insurance experts at, so contact and ask to speak to one of our representatives.