Life Insurance Santa Clara – Term Life Insurance
Term Life Insurance is a benefit we offer all our Santa Clara customers. It provides coverage for a specified time period at a fixed benefit level. You name your beneficiary, chose the coverage level (which is between 50,000 and 5 million) and a term (often 10, 15, 20, or 30 years). If you die while your policy is active, then the benefit is paid to your beneficiary, often tax free.
Life Insurance Santa Clara – How Are Premiums Calculated?
The cost of term life insurance is based on your age, health, as well as the length of the term for which you are requesting coverage. At the end of the policy term, you have the option to renew your coverage, although usually at a higher price, as premiums typically rise with age.
Term Life insurance is a good fit for people who want to meet a number of personal and business needs at a low cost.
Term Life Life Insurance:
- Protects family and loved ones from financial disaster in the event of a death.
- Helps pay the mortgage and other essential obligations, so that your family does not need to move from their Santa Clara home.
- Will finance education of loved ones
- Helps preserve a family business
- Peace of mind
Life Insurance Santa Clara – Basics
Term Life insurance is usually the least expensive type of insurance. It has no cash value, and you cannot borrow against it. It’s indemnity insurance, so if you have a current term life insurance policy and suffer a loss (death), your beneficiary will receive compensation in the amount that the policy is worth.
Term life insurance is for people who want to make sure that their family and loved ones are financially provided for if they die unexpectedly. It is often used for debt reduction or elimination, educational expenses, family debt obligations, such as the mortgage on the family home in Santa Clara, or for burial expenses.
Life Insurance Santa Clara – How Much Does Your Family Need?
Although often viewed as strictly family protection, I like to remind people that if one parent dies, it might be important to have enough coverage in place so that the second parent to quit work, or to cut back on work hours to be able to focus on the children more. This means that children don’t have to lose both parents – one to death and the remaining parent to a heavy workload in attempt to maintain the same standard of living for the family in Santa Clara.
Life Insurance Santa Clara – Is It Right for You?
Life Insurance is one of the hotly debated insurance issues, and it has to make sense for you and your family. Any agent in Santa Clara who tries to convince you to purchase ANY type of insurance should be ashamed.
I’m a former Police Sergeant with a Bay Area Police agency. I have seen too many times when tragedy hits a family, how nice it would have been for them to have planed for the people they left behind.