Many people avoid getting life insurance because they think it is too expensive or don’t understand how it works.
However, life insurance can be a vital part of your financial security, and you must understand what it entails. At Nest Insurance Agency in Amarillo, TX, we help you get answers to everyday life insurance questions.
What is life insurance?
Life insurance is an agreement or contract between the policyholder and the insurance company. The contract states that you’ll need to pay premiums to the insurance company so that they pay your beneficiaries a sum of money when you die. The money is known as death benefits and is usually paid in a lump sum upon death.
What are the different types of life insurance?
There are two main types of life insurance: term life insurance and whole life insurance. Term life insurance provides coverage for a period of 10-30 years. Whole life insurance covers the policyholder for their entire life.
Do I need life insurance?
You should consider getting life insurance if you have dependents who need your financial support. Life insurance can be a crucial safety net if you are the breadwinner of your family and your death will cause financial hardship for your loved ones.
How much life insurance do I need?
The life insurance you need depends on factors such as your income, debts, dependents, and lifestyle. A life insurance calculator can give you an estimate of how much coverage you might need.
Where can I get a life insurance plan?
You can get life insurance through an insurance agent, financial planner, or directly from an insurance company.
Get the most secured life insurance plan from Nest Insurance Agency, serving the residents of Amarillo, TX. We offer life insurance plans that will suit your needs and budget. Visit us today to get started.
