Life insurance provides a death benefit payment to the beneficiaries once the insured person dies. These contracts are common because they offer your loved ones protection against the financial impact of your death. If you are considering life insurance or if you’re an agent looking to expand your insurance knowledge, here’s what you need to know.
Speak with a licensed insurance agent today!
A life insurance contract promises a death benefit payment to your beneficiaries when the insured person dies. You can choose who is covered by the plan and who receives the money when the insured person dies. The death benefit amount varies depending on what is stated in the contract.
Life insurance is best for people who feel like their loved ones will need help replacing their income if they happen to die. This includes people with families and little savings, as well as retirement age individuals who might have a dependent spouse. In general, life insurance can provide a safety net that makes it easier to live life with fewer worries.
How much your beneficiaries receive is decided when you sign the contract. While you can choose to change this amount with some policies, in most cases, the death benefit remains the same for the span of the contract. Death benefits can range up to millions of dollars, while others are as low as $20,000.
If you are ready to purchase a life insurance policy, get help from our professionals. The insurance team at JEMS of Insurance Group is ready for your call. Reach out to us at 1-833-817-6252 to get started with a free quote on life insurance in your area.
© 2023 Jems of Insurance Group, Inc. All Rights Reserved.
We are not connected with or endorsed by the United States government or the federal Medicare program. We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all your options.
