Life insurance safety net can help your family maintain the lifestyle they’ve grown to love and provide longer-lasting financial security. Your family can use it to help pay for funeral expenses, housing costs, medical bills not covered by health insurance, children’s college, debts and just about anything else they may need.
Simply put: life insurance can remove many of your financial worries. Just get a life insurance quote today, check these worries off your list, and your family could be better protected. Do you require help in Murfreesboro?
Life insurance rates are more affordable than you might think
Coverage options start at $50,000 and go all the way up to $1 million. The younger and healthier you are, the more affordable your rates can be.
What is life insurance safety net and how it works
A life insurance safety net works similarly to any other type of insurance policy. You determine how much coverage you need, how long you need it, and then you make your payments (called premiums). You typically can choose to pay monthly, annually or quarterly for 10, 20, 30 years or over your lifetime to maintain the coverage. When you die, if your policy is still active, the people you’ve listed on your policy (called your beneficiaries) get paid the death benefit. In most cases, this payment is paid in one lump sum.
Different types of life insurance
Term life insurance
Typically, gives the most bang for your buck with the most affordable premium payments and a comparable payout.
Permanent life insurance
Gives you a guaranteed payout no matter what age you are or when you pass away, as long as you keep paying your premiums.
Final expense insurance
Offers more affordable premium payments and is designed for final expenses, such as medical bills, credit card debt, funeral costs, etc.