Franklinton & Bogalusa Life Insurance
The decision to buy life insurance is highly personal. And the process of shopping for the coverage can be emotional and fraught with pitfalls and fine print. It’s very important to understand the type of policy you’re getting for your money, what coverage it provides, and what caveats exist.
Different Types of Life Insurance
There are different types of life insurance to choose from, but most policies can be distilled down to two main categories.
Term Life: Covers you for a pre-defined period. Once the term ends, you must re-negotiate your contract and if your health has deteriorated, you can expect to pay a higher premium.
Permanent Life: Covers you for your entire life (if you so choose). You pay the set premium for a set payoff amount in the event of your death. This is paid for your entire life or if you choose to “cash out” your policy, you receive the “cash value” amount, which is different from (and less than) the amount that would be paid in the event of your death.
Who are You Purchasing Life Insurance for?
Hint: it’s not YOU. Life insurance protects those left behind after you die, whether it’s your spouse, kids, parents, or a business partner or charity. It doesn’t matter how old you are. If you have loved ones that may be left vulnerable in the event of your passing, you need life insurance.
Results Not Typical – Watch out for Too-Good-to-be-True Life Insurance Premiums
You’ve undoubtedly seen those life insurance commercials that run during the evening news. They give examples of people that are getting life insurance policies for pennies a day, and in small print at the bottom of the screen is a disclaimer indicating that you shouldn’t expect those results.
The reality is any money you’re saving on these types of programs is being made up with time and hassle on your part. Your local life insurance agent will facilitate the requisite medical exams; file paperwork on your behalf; generally manage your account, including explaining your annual statements and keeping an eye on the fine print; and help explain and untangle any potentially costly problems that may arise.
Unfortunately, if there is an oversight in your life insurance policy or you simply select one that doesn’t meet your needs, you probably won’t know it for at least 10 years.
Contact Our Local Offices in Bogalusa & Franklinton, LA – Moore & Jenkins
Protection starts with selecting a trusted advisor that will use their expertise to look out for your best interest. Contact our caring, experienced life insurance agents today or request a life insurance quote, so we can help you obtain a policy that meets yours and your family’s needs now and in the future.