For an individual or family Tulsa, Oklahoma City, Edmond life insurance should be a focal point for any insurance strategy. The coverage that is gained can be necessary in a potentially difficult time.
The design of life insurance is to protect loved ones that are left behind. If someone passes away, there would be a range of expenses and added responsibility that can be tough to handle – in addition to the emotional turmoil. For instance, if a spouse were to pass away much earlier than expected, funeral expenses, lost income, savings, and other items would cause a great deal of stress.
How does a life insurance policy work?
There are two fundamental life insurance policy types:
- Whole Life: This is permanent policy that offers a death benefit. The amount of the benefit is paid when the insured person passes away, as long as premiums are paid.
- Term Life: This type of policy only offers a death benefit under the term of the policy. For instance, a 30-year term policy would only cover the insured person for the next 30 years; a new policy would be required following that term if the person wants to stay insured.
- Oklahoma residents should be aware of these and other types of policies. Also, it should be noted that individuals are allowed to purchase more than one policy. This can be effective in insuring a business need or mixing the advantages of different types of policies.
It is important to purchase a life insurance policy from an independent agency like Tulsa Insurance Guy who is able to explain the policy and answer any questions that may arise. With an independent agent, the customer receives several quotes from top-tier insurers that can save a great deal of money. Then, the customer can compare their options conveniently.
Don’t overlook life insurance. It is a valuable insurance policy that can protect those that are left behind in a difficult situation.