Article provided by: Quote Savage
Different types of insurance are taken to provide protection against financial loss and manage consequences that come with unfortunate events. The various types of insurance include health, property, auto, credit, and life insurance. As a policyholder, you can rest assured that your insurer will cover the costs stipulated in your contract.
Quote Savage helps potential policyholders to decide on which insurance carrier to work with. We assist our clients in making the appropriate decisions regarding auto, home, and life insurance in Sarasota, Florida.
What is Life Insurance?
Life insurance is a policy that requires the carrier to pay dependents upon the death of the policyholder. This policy is, therefore, is beneficial to people who have beneficiaries.
With a life insurance cover in place, your financial obligations will be taken care of even after you’ve passed away. People who provide a significant amount of a family’s income should, therefore, consider a life cover a priority. The policy you get should be determined by the number of dependents you have.
Factors that will affect your premium rates for a life cover include:
- Health status
- Drinking and smoking
- Marital status
- Driving record
Insurance companies charge more for premiums where they think there’s a high likelihood that they’ll have to pay the claim. Avoiding habits such as smoking and drinking can get you better rates. The same goes for practicing safe driving and living a healthy lifestyle.
Types of Life Insurance Policies
The various types of life insurance policies include:
- Permanent Life Insurance– A permanent life insurance provides a lifetime cover. They're more costly than term policies which last for a specified period. Whole and universal policies are examples of permanent insurance.
- Term Life Insurance – This policy is the most affordable. It covers a specified term, usually 10, 20, or 30 years before it expires.
At Quote Savage, we help potential policyholders to choose the right life policy. As professionals in the insurance field, we offer useful information regarding each type of life insurance policy and its unique benefits.
What is the Importance of Having Life Insurance?
Advantages of having life insurance are:
- Payments made to your beneficiaries from your life insurance enable them to take care of their needs in your absence.
- Life insurance covers are generally flexible. As a policyholder, you can adjust the death benefit and premium rates whenever you want.
- Payments from life insurance are usually income-tax-free.
- With the right policy, all your debts and loans will be covered. That way, your family is not left with any extra financial baggage from your creditors when you pass away.
Different policies come with different benefits. At Quote Savage, we advise the best policy for each situation.
Get the Best Life Insurance
At Quote Savage, we understand that each of our customers has unique needs. As such, we work closely with our clients to find the right life insurance for them. The right policy ensures their families are well taken care of even in their absence. If you’re shopping for life insurance in Sarasota, we’re at your service. Contact us on (727) 900-5888 today and let us help you find the best life insurance.Life Insurance Sarasota
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