Life Insurance Quote Forms
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Life Insurance Information
Knowing what types of insurance you need at each stage of your life can be overwhelming. Many people think life insurance is only for people of a certain age, but that isn’t necessarily the case. An unexpected death can happen to anyone, so it is essential to ensure your loved ones will be provided for in the event of your passing.
What Is Whole Life Insurance vs. Term Life Insurance?
1. Life insurance can ensure your beneficiaries receive a death benefit to help cover expenses. The following are the two main types of life insurance policies:
2. Term life insurance is limited by a set time frame, usually anywhere from one to 30 years. It will pay out only if the death occurs while the term remains active.
Whole life insurance is permanent life insurance that pays a death benefit whenever the insured individual dies. It generally expires only if the policyholder stops making payments and usually includes a cash value component.
How Does Life Insurance Work?
Most people use life insurance to help support their loved ones who would suffer financial hardship upon death. In exchange for paying a monthly, quarterly or annual premium, a life insurance policy pays out a death benefit to one or more named beneficiaries when the insured person dies. A death benefit can help pay for the following expenses:
- Income replacement for dependents
- Federal and state death taxes
Life Insurance Quote in Cincinnati and Chillicothe, OH
If you want to learn more about life insurance, contact Wilber-Price Insurance. We can ensure you have the coverage to support your loved ones and provide peace of mind.