Thinking about and planning for your passing can be intimidating and unpleasant. Still, it’s one of the most important things you can do to make sure the aftermath of your death is as easy as it can be for your loved ones. Through our new partnership with Policygenius, finding the right life insurance policy for you and your family is simple and easy.
Keep reading to learn more about life insurance, who should consider life insurance, how Policygenius can help, and how you can get started.
Secure your family’s future with life insurance
Life insurance is designed to protect your beneficiaries – typically children, your spouse, or other family members – when you pass. Under a life insurance policy, you pay insurance premiums in exchange for the insurer’s commitment to pay out a tax-free “death benefit” to your beneficiaries when you die.
When selecting a life insurance policy, you choose the type of policy, the number of years you want it to last, and the coverage amount. If you pass away while the policy is active, your beneficiaries can file a claim, and the death benefit will be paid out. This lump sum of money can be used for funeral expenses, debts like a mortgage, college costs, long-term care, bills, and more.
Who should have life insurance?
Some may assume that life insurance isn’t necessary if you aren’t expecting to pass away anytime soon, but the unexpected is just that – unexpected. Anyone who has dependents who would incur a financial burden from their death is a good candidate for life insurance. You could benefit from life insurance if any of the following scenarios apply to you:
- Your debt would be inherited by someone else
- Your spouse or partner depends on your income
- Your children depend on your income
- Your family would owe estate taxes
- Your business depends on you
Types of life insurance
There are two primary types of life insurance policies: term life and whole life.
- Term life insurance expires after a set period. It is designed to provide protection when you need it and ends when significant financial obligations have been paid off (mortgage, college tuition, etc.) It’s the most common type because it’s relatively simple and less expensive.
- Whole life insurance is permanent, meaning it never expires. It also has a cash value similar to an investment account you can borrow from. This component makes this type more expensive than term life insurance.
How can Policygenius help me?
Policygenius provides an insurance marketplace where you can shop the nation’s top life insurance companies, compare quotes, and purchase the policy that makes the most sense for you and your family. Because Policygenius uses a competitive marketplace model, you can shop and compare to find the best fit at the lowest price. There are no hidden fees, and you can enjoy unlimited advice from their team of unbiased advisors.
How is Policygenius different?
If you’re not sure which plan makes the most sense for you, or you have any other questions, Policygenius’ team of experts is available to help guide you through each step of the application process. They will help you schedule your medical exam, fill out paperwork, and negotiate with the insurance company at no additional cost.
Getting started with Policygenius is easy. First, you’ll need to input your zip code.
Then, you’ll need to provide some preliminary information about where you are on your journey towards purchasing life insurance, as well as information about your life, health, and needs.
Once all of your information has been submitted, a licensed agent will reach out for a quick, five-minute phone call to confirm your health information and deliver your quotes. Never fear – your information is 100% secure and never sold to third parties.
Policygenius serves shoppers across all 50 states, and its list of insurers is always growing. Ready to get started? Get your free life insurance quote today.