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Purchasing life insurance is one of the most important decisions you will ever make in today’s world. You can no longer depend on the life insurance that is included in your employee benefits package. Company benefits can change, you may leave your company for a better opportunity, or you could get laid off. All situations that you have little control over and cause a change in your life insurance.
With a life insurance policy through many of the fine life insurance companies that we represent, you decide how much insurance you need, you decide what kind of life insurance you need, you decided how much you pay for your life insurance. With our policy you are the owner and you are in control.
CALL OR EMAIL DEVCO Insurance Service today to discuss your life insurance needs and the options that DEVCO Insurance Service can provide through our many life insurance companies.
GET IN TOUCH TODAY OFFICE: 281-893-9113 EMAIL: info@devcoins.com
FREQUENTLY ASKED QUESTIONS
How much life insurance should I purchase?
If you have a family, may experts suggest that you need an equal amount of 7-10 times your annual salary, however, many people own higher coverage to provide more income for their family.
How can life insurance funds be used?
You can use your life insurance for many needs, including any immediate needs at the time of death, such as financial illness expenses, burial costs and estate taxes.
Funds for a readjustment period, to finance a move, or to provide time for family members to find a job
On going financial needs, such as monthly bills and expenses, day care costs, college tuition or treatment.
What is the difference between term and permanent life insurance?
Term insurance provides you with coverage for a specific period of time. It pays a benefit only if you die during that term (10, 15, 20, 30 years). Some tern insurance can be renewed at the end of the period. Others give you the ability to re-enter. Premium rates will increase at each renewal or each re-entry in order to qualify from the lowest available rates, because term insurance premium is generally lower than permanent insurance premiums, you can usually afford a higher level of coverage.
Term insurance is good for covering responsibilities that will diminish or end over time, for instance, mortgages or car loans.
Permanent (or Cash Value) insurance is designed to be a life long policy and is known by a variety of names. As long as you pay the necessary premiums, the death benefit will always be there. These policies are designed and priced for you to keep over a long period of time.
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