-Life insurance is something that everyone needs but tend to put off, often because trying to understand the different kinds of life insurance seems too confusing. Rick Torres, life insurance agent in Solvang, has recently released a report to help take the mystery and confusion out of the best kind of life insurance coverage to have.
Life insurance benefits everyone, even the young and single. The right life insurance coverage can be an investment in the future and protect a family from expensive funeral costs in the event of premature death.
The peace of mind that comes with the right life insurance coverage is an investment in the future. Whether a single young adult just starting out, single at any age, parents wanting to provide for a spouse and children, or a business owner needing to provide protection for business partners, there is a flexible plan for everyone.
“The best way to get started,” said Torres, “is to make an appointment with your insurance agent to discuss your life insurance needs. The agents in our Solvang office are experienced and knowledgeable and can help.”
Life insurance needs to be flexible and the ideal coverage can be customized to meet life’s changes. Life insurance coverage includes:
- Term life insurance provides death protection for a stated period of time. Once the term expires, the policyholder can renew it for another term, let the policy terminate, or in some cases, convert to a different type of life insurance policy.
- Whole life insurance helps families prepare for the unexpected. Over time, whole life insurance policies build cash value, providing a “living benefit” that can be accessed during the insured’s lifetime. The guaranteed death benefit can help replace lost income, help with mortgage costs, educational needs, or leave as a legacy.
- A Universal Life Insurance policy is a flexible way to help protect your family and build tax-deferred cash value. Universal Life insurance has the flexibility to customize coverage and premiums. Insured parties can raise or lower coverage and the premium to fit changing life needs. It builds cash value that can be used during the insured’s lifetime. The guaranteed death benefit can help replace lost income, mortgage costs, educational needs, or leave as a legacy.
A good insurance agent takes the mystery out of life insurance by taking the time to listen to clients then help them understand which coverage is best at their current time in life and what the options are for customizing coverage as life changes.
It’s also a good idea to periodically review life insurance policies. Life changes such as getting married or divorced, having children, retiring, changes in income, buying a home, starting a business, even an increase in the value of a business are all reasons to review a life insurance policy. One of the advantages of a flexible life insurance policy is the ability to customize coverage and still keep the investments already made into the same policy.
Rick Torres Insurance Agency
540 Alisal Road, Suite 4
Solvang, CA 93463-2637