Life insurance can be an important part of your financial well-being. It can also provide you with peace of mind about the future. Life insurance can be one of the best ways to make sure that your family is taken care of once you are gone, and their standard of living doesn’t need to change.
Your life insurance coverage needs will depend on several factors and can change over time. You will need to start figuring out how much your family needs for major expenses and daily living. An agent at Emporium Insurance Agency can help you determine the right amount for your needs.
There are two different types of policies that you may want to consider. Term life insurance only gives you the death benefit and will last for a certain number of years. Permanent life insurance is a long-term policy, and there is also an investment component and the death benefit.
The grace period of life insurance in the state is 30 days. This means you have 30 days to make a premium payment for late payment without losing your coverage. During this time, the policy can’t lapse, and if a death occurs, then the insurance company will still make the payout. The free look period in the state is 10 days. This is where you can essentially “test drive” the policy and make sure that you want to stick with it without a financial commitment. Like many other states, the state also has a guarantee to the policy owner that if the insurance company becomes insolvent or bankrupt, then claims will still be made up to a certain point.
Contact Emporium Insurance Agency to get a quote on life insurance.