Types of Life Insurance

Choosing a life insurance policy can be overwhelming. The two main categories of life insurance are term and whole life. However, there are several subcategories, as well. At Client First Insurance Solutions in Americus, GA, we are committed to helping our customers choose the policy that is best for them. 

Term Life Insurance

Term life insurance is issued for a specific number of years or term. If you outlive the term, you don’t receive anything from the policy. You may have the option to renew the policy once the term is over. Term insurance premiums are generally lower than whole life. One reason for this is that the odds are that you will outlive your term policy, which means the policy has to pay out less often. 

Types of term life insurance include:

  • Standard term insurance
  • Simplified issue life insurance
  • Guaranteed issue life insurance

Whole Life Insurance

Whole life insurance stays with you until your death. Since the policy expects to pay out at some point, the premiums are often higher than those of term insurance. Some whole life policies also have an investment aspect. You may be able to access the money that you have paid into the policy. 

Types of whole life insurance include:

  • Standard whole life
  • Universal life insurance
  • Variable life insurance

Group Life Insurance

Group life insurance can be term or whole life insurance. Most people have access to group life insurance through their employer. Types of group of life insurance available are limited to those that the group or facilitator chooses to provide. 

Life Insurance at Client First Insurance Solutions

For more information about the different life insurance types in Americus, GA, contact us at Client First Insurance Solutions. We will discuss your needs and preferences and help you select the policy that best suits your needs. 

Types of Life Insurance

Choosing a life insurance policy can be overwhelming. The two main categories of life insurance are term and whole life. However, there are several subcategories, as well. At Client First Insurance Solutions in Americus, GA, we are committed to helping our customers choose the policy that is best for them. 

Term Life Insurance

Term life insurance is issued for a specific number of years or term. If you outlive the term, you don’t receive anything from the policy. You may have the option to renew the policy once the term is over. Term insurance premiums are generally lower than whole life. One reason for this is that the odds are that you will outlive your term policy, which means the policy has to pay out less often. 

Types of term life insurance include:

  • Standard term insurance
  • Simplified issue life insurance
  • Guaranteed issue life insurance

Whole Life Insurance

Whole life insurance stays with you until your death. Since the policy expects to pay out at some point, the premiums are often higher than those of term insurance. Some whole life policies also have an investment aspect. You may be able to access the money that you have paid into the policy. 

Types of whole life insurance include:

  • Standard whole life
  • Universal life insurance
  • Variable life insurance

Group Life Insurance

Group life insurance can be term or whole life insurance. Most people have access to group life insurance through their employer. Types of group of life insurance available are limited to those that the group or facilitator chooses to provide. 

Life Insurance at Client First Insurance Solutions

For more information about the different life insurance types in Americus, GA, contact us at Client First Insurance Solutions. We will discuss your needs and preferences and help you select the policy that best suits your needs. 

How Life Insurance Works

 Life insurance is something that often seems more complicated than it is. This simple guide from your friends here at Client First Insurance Solutions in Americus, GA should help clear the confusion.

Applying For Life Insurance

An application for life insurance will always include answering questions about your health, your family’s health, your lifestyle, and your personal information. There will also be an interview and typically a medical exam. All of this is necessary for approval and to determine what options and rates are available to you.

You will also need to make decisions about which type of life insurance coverage you want as well as specifying your beneficiaries, those who receive insurance funds upon your death. Have a minimum of a primary and a secondary beneficiary in mind in case the primary cannot be contacted or even passes before you.

Types of Insurance

There are two basic types of life insurance- term life and whole life- and the one you should choose will depend on your goal. Term life only covers the insured for a specific amount of time. If you simply want to be sure your spouse can pay off the mortgage or get the kids off to college in the case of your premature death, you should consider a term life policy.

The length of time you choose should be enough to cover the period you are concerned with. For instance, if you have ten years left on your mortgage, you might consider a 10-year term policy.

Whole life is designed to cover the insured for their entire life as long as the policy is being or has been paid. If you want to be sure your loved ones are cared for, no matter when you pass, a whole life policy might be the better answer.

What Happens Upon Death?

Upon death, the beneficiary or beneficiaries can file a claim to receive the death benefits. Your insurance agent will approve or reject the claim according to whether the deceased’s policy covers the cause of death, or the agent will request more information. If the claim is approved, the insurance agent will arrange the payout of the death benefits.

No one wants to face their passing, but it is vital to do so to take care of loved ones. If you have any questions or would like a no-obligation quote, give Client First Insurance Solutions of Americus, GA a call today!