Call Hammer Associates

Call us Now: 512-343-6994

Life Insurance

Life Insurance Policies

Get Quote



Life Insurance Overview

Intro

There are many different offerings available for insurance policies, all of which are purchased for your protection, but for many the most important one is life insurance. The following is a brief overview of this type of insurance coverage.

What is it?

This kind of insurance can pay out a significant cash benefit to the named policy beneficiary upon the policyholder’s death. This coverage can pay out for almost all incidents of death, and it stands ready throughout a policyholder’s life.

The Two Basic Kinds of Policies

Although there is a myriad of variations in policies, the two main kinds are Term Life and Whole Life. Term, as the name would imply, covers a specific time period in which the policy remains active. When this period is over, the insurance is no longer in effect and the individual must purchase new coverage if he or she wishes to continue to enjoy the protections. The second kind is the Whole-Life policy. This one can also have the added function of being an investment vehicle as it builds up cash value over time. One has more flexibility with this coverage and can even sell it for its value later on in retirement.

Who Needs this Type of Insurance?

There are two big reasons to obtain and carry such a policy. The first would be as the primary breadwinner for your family. In this case, should you pass away, your loved ones will not suffer financial hardship. Another reason is that, in the purchase of such a policy, you will not be a burden to your loved ones with the various expenses in the aftermath of your death, like funeral costs.

Family Benefits

Carry certain life insurance policies mean that, for example, the expense of sending your children to college can be covered. It can also help your family can stay in their home, because with a payout the mortgage can be fully paid. Essentially, a policy can safeguard your family from financial hardship if you pass away. Although some insurance is paid out in a lump sum, it is also possible to have money paid out over time as well.

If you ponder the possible consequences of your death for your loved ones, it is easy to see the benefits in obtaining this important coverage. Good life insurance coverage can make the difference between struggling and thriving...



Back to Home
Learn about Auto Insurance
Learn about Homeowners Insurance
Learn more about Life Insurance