Life Insurance
Life insurance serves as a crucial tool in providing financial security for you and your loved ones, offering a means to replace lost income and cover various expenses following your passing or the expiration of the policy term. If you’re seeking life insurance, our agency stands ready to assist you. We’re equipped to discuss your life insurance requirements and help you find a policy that aligns with your needs.
Understanding Life Insurance
Life insurance entails a contractual agreement between you (the policyholder) and the insurance company. In exchange for regular premium payments, your beneficiaries will receive a lump-sum death benefit upon your demise or at the conclusion of a specified period.
What Are the Types of Life Insurance?
There are two primary types of life insurance, including:
- Term life insurance—Provides a death benefit to your loved ones if you pass away during the policy term, typically spanning 10, 20, 30, or more years. If you outlive the term, the policy expires, necessitating reapplication for continued coverage.
- Whole life insurance—Whole life insurance: Offers coverage for your entire lifetime upon enrollment and does not expire as long as premiums are paid. Additionally, this policy type features cash value investment opportunities, providing a potential source of income during your lifetime alongside the death benefit.
Various other types of life insurance are also available. Contact one of our agents to determine the coverage that best suits your specific needs.
How to Obtain Life Insurance
If you’re in search of a life insurance policy, we’re here to guide you through the process. Reach out to Reggie Saylor with John Galt Insurance Agency today by phone or online to initiate the journey towards securing the protection you and your loved ones deserve.