Generally speaking, life insurance represents a contract between an insurance company and an individual that strives to provide financial assistance to a policyholder’s beneficiaries in the event the policyholder passes away or a set period of time has passed. The contract stipulates that a policyholder shall pay premiums regularly in the exchange for the lump-sum financial assistance. The ultimate goal of life insurance is to produce financial security for the policyholder’s beneficiaries.
WHAT IS SAN DIEGO LIFE INSURANCE?
SAN DIEGO LIFE INSURANCE
Readylane Insurance Services will define to you what life insurance is and why it is important for San Diego residents.
TYPES OF LIFE INSURANCE
Protects for a set period of time
Less expensive than other forms
Possibility of forgoing medical exam
Replacement of income
Term Life Insurance
Term life insurance protects the policyholder for a set period of time. This type of San Diego insurance is less expensive than other forms and has fixed premiums for a variety of time periods. It also allows for a replacement of income and for a variety of expenses to be covered. Lastly, some policyholders are eligible for a policy that features the ability for one to forgo a medical exam.
Whole Life Insurance
Whole life insurance features permanent protection for the policyholder. This type of San Diego life Insurance carries on throughout the entire life of the policyholder as long as financial obligations are met. One of the major benefits of whole life insurance is the ability for it to build cash value over time.
Protects for entire life
Builds cash value over time
Protects for entire life
Premiums fluctuate
Builds cash value over time
Interest rate can't fall lower than set level
Universal Life Insurance
Universal life insurance is another type of San Diego life insurance that provides permanent protection for the policyholder. It covers the policyholder for their entire life. In addition, it features the ability to grow in cash value over time. The difference that sets it apart from Whole life insurance is the ability for universal policy premiums to fluctuate and the interest rate will not fall below a set percentage.
WHY SAN DIEGO LIFE INSURANCE IMPORTANT
Life insurance protects your family's future.
The world of today has a variety of risks that can leave families in financial predicaments. The ability to be proactive and secure your family’s financial situation in the time of unfortunate events is the benefit of life insurance. To some, the ability to provide for one’s family is a priceless artifact.
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