Questions and Answers about Life Insurance
What does life insurance covers?
It covers one of the most expensive investment such as your house, College tuition fees, It can help pay debt, your daily expense and much more (bread winner). Some life insurance also cover Critical, Chronic and Terminal Illness. Which means some % of the amount from the death benefits can be utilized while you are still living.
What is the difference between whole life and term life insurance?
Term insurance is covered for certain period of time such as 15,20,25 or 30 years which means the policy expires after that period. Where whole life will be there for your whole life. It builds cash value but Premium is more expensive than term insurance. Premium amount does not change in both policies.
Why should I buy life insurance. Don’t you think it is waste of money?
Life insurance is there to protect the unexpected. It gives stress free life to protect you and your loved ones in case something happens to you. It also helps to cover the funeral expenses and your investments.
Where should you buy life insurance from ?
Usually people can buy insurance from 3 different places.
Directly form the company: You have to know what are you purchasing and you are comfortable with it
Online comparison : Not all the insurance companies are listed under that comparison.
Broker or Agent: They represents several insurance companies and are able to provide insurance which fits according to your budget and your life style.
Why should someone buy life insurance or retirement plan from you.?
Healthinsurance545 represents top insurance companies which means they shop around to find the best policy for you. Most importantly, they are based in New Jersey and easy to get contacted.
Do I still need life insurance if I already have through my work.?
There are different kinds of life insurance coverages which you get through work. Such as only accidental death, Job related death coverage. It is good to have life insurance through work but what happens if you left the job, laid off or business gets closed, your insurance will be terminated. Consider life insurance through work an icing on the cake but one should purchase a fully covered life insurance.
ONLY 54 %PEOPLE HAVE SOME KIND OF LIFE INSURANCE (lMBRA 2020 STUDY)