Term Life Insurance Islip NY

Term life insurance is one way that you can protect your family financially when you are no longer able to be present with them. A term life insurance policy can provide funds for your funeral or burial, as well as financial security for your family for years to come.

1 . Local Companies

Mr. Daniel F. Spagnolo (RFC®), MBA
631 439 4600 x336
4250 Veterans Memorial Hwy Ste 420E
Holbrook, NY
Allstate Auto Insurance
(888) 355-7971
350 Washington Ave
Brentwood, NY
Allstate Auto Insurance
(888) 355-7971
2900 Hempstead Tpke
Levittown, NY
Allstate Auto Insurance
(888) 355-7971
1850 Merrick Rd
Merrick, NY
Allstate Auto Insurance
(888) 355-7971
160 Post Ave
Westbury, NY
Matthew Berman
1393 Veterans Memorial Highway
Hauppauge, NY
Mr. Albert F. Coletti (RFC®), CHFC, CLU
631 979 6161 x102
P.O. Box 728
Smithtown, NY
Allstate Auto Insurance
(888) 355-7971
888 Veterans Hwy
Hauppauge, NY
Allstate Auto Insurance
(888) 355-7971
708 Walt Whitman Rd
Melville, NY
Allstate Auto Insurance
(888) 355-7971
2575 Wantagh Ave
Wantagh, NY
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2 . What is Term Life Insurance?

Simply put, life insurance is a contract between an individual and the insurance company to pay an agreed upon sum of money at the time of the individual's death during the course of the insurance policy. In return, as with any insurance policy, the insured person makes regular premium payments to the insurer. The specifics of an individual life insurance contract may depend upon your needs, the insurer, and the policy itself. There may be some limitations set out in the contract, for instance whether or not the insurer will pay in cases of suicide.

In specific, term life insurance is a contractual agreement that includes three key factors. Those are the death benefit, the premium, and the term of the insurance policy. During the course of the term, neither the premiums nor the death benefit may change. One common option in the term life insurance industry today is an annual renewable term. In this case, the premiums and death benefit are guaranteed for one year, and there is a further guarantee that an equal or lesser policy will be offered at the end of that year. Term life insurance is the most common form of life insurance used by Americans today.

3 . The Benefits of Term Life Insurance

Term life insurance has many benefits, including peace of mind for you and your family. Even if you are not leaving behind a young family, you will still leave behind many expenses, including medical bills and funeral costs. You may be surprised to learn that the social security death benefit is actually quite low, and will not cover even the simplest of death services. A term life insurance policy can cover these costs, as well as enable your family to pay off any debts you might have. While none of us want to consider the possibility that we may die before we expect to, it is a reality in our world and being prepared can alleviate some of the stress for those you leave behind.

If you do have a family, having a life insurance policy is even more important. Your life insurance can allow your family to focus on healing and grieving and not worry about making the mortgage payments for a time. Having an adequate life insurance policy is critical if you are leaving behind a spouse and children, and this is one case where more really is better.

Even if your employer offers some amount of life insurance, it can be wise to purchase an additional term life insurance policy. It is easier than you might expect to get life insurance, and while large policies typically require a simple medical exam, you can even get term life insurance, no medical exam required.

4 . The Life Insurance Options

There are two basic types of life insurance. The most common, and the one most of us will encounter is term life insurance. Term life insurance is quite straightforward, and works much like any other insurance policy. The insured party makes premium payments in exchange for a guarantee of a specific monetary sum in the event of their death.
You may have also heard of whole life insurance or universal life insurance. These policies are functionally investments, as opposed to financial protection for your family and may be accessed for their cash value, as you would many other types of investments.

When you are shopping for a term life insurance policy, you may find yourself with many decisions to make. You will need to look at premiums, the amount of coverage, the term of the term life insurance policy and more. The varied term life insurance options out there can be quite confusing. You can further assume that premiums for life insurance will increase with age and death benefits will typically decline with age. If you are young, you may be surprised to learn just how easy and affordable term life insurance is. You can even get term life insurance, no medical exam required.
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