While life insurance is not required for anyone in Washington, it is good to have a policy in place. The agents at the Wenatchee Insurance Agency serving the Wenatchee, WA area want you to know that this is due to the fact that it will help protect your loved ones financially if you die unexpectedly.
The beneficiaries you name on your life insurance policy, usually a spouse or children, will be able to pay a mortgage or other bills in the event of your death. This means that they can grieve in peace without the added stress of worrying about how they will survive financially.
There is an array of different types of life insurance policies that people in the state of Washington can choose from, including the three main types of life insurance. Read on for a detailed list of the top three most popular types of life insurance policies.
Term life insurance is an affordable policy that lasts a certain amount of time. You get to choose the length of your policy's term, which can be anywhere from one year to 30 years or beyond. If your term expires before you die, you can renew your policy and start with a new term. This policy will pay a death benefit if you die during the term.
A whole life insurance policy will include three main categories for life insurance. Those different types of insurance include universal life, whole life, and variable life insurance. These types of insurance will pay out a certain amount of money to your beneficiaries when you die.
A universal life insurance policy is excellent because it acts like an investment account while you're still alive. This means that you can borrow money from your policy over time and pay off your mortgage and other larger bills so that your loved ones will not have to worry about those bills when you die. This will give you great peace in knowing that everyone is already taken care of before you die. This type of policy also pays out a death benefit when you do pass away.
To start your life insurance policy, contact the experienced and trusted agents at the Wenatchee Insurance Agency serving the Wenatchee, WA area today!