Life Insurance in White House, TN
A life insurance policy can make a huge difference in how your family is able to navigate the aftermath of tragic loss. Although no one likes to plan for the death of a loved one, doing so may be necessary to ensure that those left behind can keep their lives on track. Consequently, exploring life insurance options and finding the right coverage can be a critical step in planning for the future.
What Does Life Insurance Cover?
Life insurance policies establish contractual agreements between you and your insurance company. Whether you’re taking out a policy on yourself, your spouse or another family member, the right coverage can assist with losses and expenses related to the passing of an insured. Specifically, death benefits may assist with the following:
- Funeral expenses
- Remaining debts
- Income replacement
- Estate taxes
- Outstanding medical bills
- Administrative costs
What Types of Policies Are There?
You may be able to choose from many types of policies, but most fall under the following primary classifications:
- Term life insurance—These establish a set amount of time during which coverage will be active. If an insured’s death occurs while a policy remains in effect, beneficiaries can submit a claim for the death benefit.
- Permanent life insurance—This type of policy can maintain lifelong coverage for the insured. Additionally, these policies may accrue cash value over time, which can be borrowed against, invested or used to offset premiums.
How Much Coverage Do I Need?
The right life insurance depends on your unique circumstances. Your financial assets, outstanding debts, age, family and many other aspects of your life should be considered. For example, if you are a parent with young children, term coverage can ensure they’re provided for until a certain age. Meanwhile, if you’re seeking a way to bolster your savings and financial portfolio, permanent life insurance can offer attractive opportunities.
How to Get the Right Life Insurance
At Wilkinson Insurance Agency, we’ve proudly served families in White House and throughout the Middle Tennessee area for more than 50 years. Contact us today to learn more.