Life Insurance

Put Extra Stock In Your Life in 2018

Put Extra Stock In Your Life in 2018

Do you know that 41% of Americans do not carry any life insurance? Nearly one third of those who do only have a basic group policy through their employer.  When surveyed about 80% of people over estimated the cost for a life insurance policy.  As 2017 draws to a close this is a great time to evaluate your financial standing and make plans for the New Year.

Life insurance is more than just money, it helps to compensate financial losses that your family would face if they lose a loved one that financially contributes to the household. When you are dealing with the unexpected loss of a loved one the last thing you want to have to worry about is how you will pay for things like final expenses, outstanding debts, mortgage payments and more.

Life insurance can also be valuable for someone who is single, especially is they have debt like student loans. While most federal loans dissolve when you the debtor passes away, private loans can be passed to your co-signer, often a parent, creating an unexpected burden.

There are 2 types of life insurance Term life, and Whole Life. Term life is just like it sounds, life insurance that you pay into which is good for a set amount of time, whether it be 10, 20, or even 30 years. Term life is usually much more affordable although when it expires at the end of the term there is no cash value. Whole life policies cost more because they have some cash value and are good for your whole life, as long as you continue paying the premium.

While there are a lot of variables about life insurance, including the cost, the benefits and the length of time the policy runs, one thing is for sure, protecting your family for the future is the best option. It might even be cheaper than you think. Contact Bright Insurance today for a free life insurance quote from our certified life insurance specialist Joe Soares.