Life Insurance

Although it can seem difficult, buying the right life insurance policy can provide financial protection for your family members if you pass away unexpectedly. Without it, your beneficiaries could pay costly expenses associated with your death (e.g., burial expenses, funeral costs, federal income tax). Finding a life insurance policy with the death benefits you deserve can provide your family members with essential financial support when you pass away.

We’re here to help you find the best life insurance policy for your needs. Contact Cook Insurance in Apache, Arizona, to learn more about our life insurance coverage solutions and to speak to an insurance agent today.

What Kind of Life Insurance Should I Get?

When searching for the right life insurance policy, it’s important to note that there are two primary types of life insurance: term life insurance and whole life insurance. Here are some things to consider when deciding between the two types of life insurance:

·       Term life insurance has a set coverage length (e.g., 15 years). At the end of the policy term, your beneficiaries will no longer receive death benefits after you pass away. Generally, your life insurance premiums will be lower with term life insurance.

·       Whole life insurance provides lifelong protection as long as you continue to make your monthly premium payments. A whole life insurance policy allows you to accrue cash value by withdrawing or borrowing money from your insurance policy. It provides a level premium, allowing you to lock in lower rates when you’re young and healthy.

Your insurance company may require a medical exam when you apply for a life insurance policy where you will be asked about your lifestyle and medical history.

Finding the right life insurance policy can be challenging. That’s why we’re here to help. Call Cook Insurance today and let us answer your insurance questions.

What Does Life Insurance Cover?

Generally, a standard life insurance policy will include the following death benefits:

·       Death taxes covers costs associated with federal income taxes on your estate.

·       Income replacement supports dependents who rely on your annual salary for financial support.

·       Inheritance creation passes down your wealth and assets to your desired beneficiaries.

·       Final expenses pays for burial expenses, funeral costs and other related fees.

How Much Life Insurance Do I Need?

The exact amount of life insurance you need will depend on many factors. When determining your coverage needs, you may want to consider: the cost of income replacement for your annual salary; the cost to replace services you provide (e.g., child-care services at home); and, any mortgage, outstanding loans or funeral expenses which could be left to your family members if you die unexpectedly.

Speak to your insurance company for more information on your specific coverage requirements.

How Many Life Insurance Policies Can I Have?

While most people will receive sufficient coverage from a single life insurance policy, there is no limit to the number of life insurance policies you can buy. The extra protection provided by multiple life insurance policies can be beneficial if you have certain financial obligations (e.g., a child’s college tuition).

Speak to an insurance agent today to learn more. Call Cook Insurance for more information.

Where Can I Buy Life Insurance?

Our insurance agents are committed to finding the best life insurance policy for you. Don’t leave it up to chance; contact Cook Insurance today for more life insurance information and a free life insurance quote.