When a death occurs in a family, those who are left may suffer financial loss and hardship. Life insurance is designed to ease those frustrations. Its primary purpose is to protect the surviving members of a family or other dependents against the loss of an individual’s income or services. A life insurance policy is a legal contract between you and an insurance company that guarantees the payment of a death benefit to your chosen beneficiaries in exchange for the payment of a premium by you.
In the event of your passing, life insurance provides money directly to your beneficiaries. They can use the money for:
- Making up for your lost income
- Funding a child’s education
- Paying off household debt
- Paying for your funeral and other related expenses
At Stahler & Associates, will work not only to provide you with the coverage you want, but also take the time to educate you on the coverage you may need. Questions to consider and discuss while considering life insurance could include:
- Do I need life insurance?
- How much life insurance do I need?
- What kind do I need?
- Why do I need other life insurance when I already have it through my employer?
There are two main categories of life insurance, Term Life Insurance and Permanent Life Insurance. Term life insurance offers protection for your loved ones for a specified period of time—usually from 1 to 20 years. If you stop paying premiums, the insurance stops. Term policies pay benefits if you die during the period covered by the policy, but they do not build cash value. Permanent life insurance policies do not expire, they are intended to protect your loved ones permanently, as long as you pay your premiums. Some types of these policies accumulate cash value, which can be put to good use during your lifetime.
After you have decided which kind of life insurance is best for you, compare similar policies from different companies to find which one is likely to give you the best value for your money. Here at Stahler & Associates, we can obtain insurance from any agency and also give you a quote from each of those agencies. Although, a simple comparison is not enough. There are other things to consider. For example:
- Do premiums or benefits vary from year to year?
- How much do the benefits build up in the policy?
- What part of the premiums or benefits is not guaranteed?
- What is the effect of interest on money paid and received at different times on the policy?
Remember that no one company offers the lowest cost at all ages for all kinds and amounts of insurance. You should consider all the factors before making an educated decision. Here at Stahler & Associates and our affiliates offer a diverse portfolio of life insurance policies focused on protecting you and your loved ones. Whether you have short- or long- term needs or are more focused on death benefit protection or building cash value, we have a policy that can help you. We offer a number of temporary and permanent policies, including term life insurance, universal live insurance and variable universal life insurance.
Stahler & Associates Insurance Services is an independent, licensed insurance agency servicing Bettendorf and Davenport, the Iowa-Illinois Quad Cities and surrounding areas. Whether you are looking to sign-up , get a quote or just need some information, contact us today to learn more 563-326-6423. Stahler & Associates, your leading Quad Cities individual and group life insurance provider.