If you already have the big picture of your finances, life insurance can be a great addition to your strategy. Life insurance from Guardian Insurance helps protect your financial interests when you die — although some policies kick in even when alive. Unfortunately, many Americans haven't invested in life insurance because they think it's expensive or doesn't have the correct information. If you want to invest in life insurance in Omaha, NE, call us for more clarification. But even before then, here is what you need to know about life insurance.
Types of life insurance policies
When you want to invest in life insurance, several options exist. While there are different life insurance policies, they usually fall into the two categories below:
- Term life insurance: This insurance policy protects you for a given period, typically between 10 and 30 years. If you die within the policy period, your beneficiaries receive the death benefit to meet their financial obligations. Otherwise, you don't receive any benefit if you survive within the policy period. However, you can renew your policy, but your premiums will be higher because you are older, hence considered riskier.
- Whole life insurance: This insurance plan covers you for life as long as you honor your premiums. Like term life insurance, your named beneficiaries receive the death benefit upon your death. However, this policy accumulates a cash value you can borrow against or supplement your retirement income when alive.
If you want to narrow it down to a life insurance policy that will work for you, don't hesitate to contact Guardian Insurance for personalized advice.
Why do I need a life insurance policy?
If you have people depending on your income, you should get a life insurance policy to ensure they can meet their obligations when you die. You also need a life insurance plan if you:
- Own a business
- Have debts
- Are a stay-at-home-parent
- Want to pay for your final expenses
- Want to leave an inheritance
Ready to buy a life insurance policy? We serve Nebraska, Iowa, South Dakota, Arizona, Florida, Kansas, Colorado, and Missouri. Don't hesitate to contact Guardian Insurance of Omaha, NE for an affordable quote.