Life Insurance in Philadelphia
The two main types of life insurance are term and universal life. Term life insurance covers an individual for a specific time period and the rate remains the same as long as the policy does not lapse. The younger you are when you purchase term life insurance, the lower the rate. So it does benefit you to make decisions concerning life insurance once you marry or start a family.Universal life insurance has a higher premium and in addition to providing a death benefit it can be used as a financial or retirement investment. Freedom Insurance will provide you with an affordable life insurance quote in Philadelphia.
Invest the time to research life insurance if you have a spouse, children or family members that depend on you. A life insurance death benefit can be used to pay for a funeral/burial, debts, and/or provide for the future.
Here are the steps to getting life insurance quotes and purchasing life insurance:
•Determine your beneficiary or beneficiaries.
•Estimate the cost of a funeral, outstanding debts, monthly household expenses, future needs of spouse or children (education, medical care, other)
•Come up with a range in dollar amounts that you would like to see quotes for: Example $250,000 and $500,000.
•Call your agent to begin the process of getting a quote. They will provide you with an initial quote.
•Fill out an application.
•Complete a phone interview with insurance company.
•Get a medical exam.
•At this point the insurance company will provide you with final premium.
•If you are comfortable with the premium, sign paperwork, make your first payment and provide a copy to your attorney and/or beneficiary.
Although discussing life insurance or even thinking about it can be stressful, you will sleep a lot better knowing you have done your part in taking care of loved ones.