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GETTING LIFE INSURANCE
Life insurance is protection against the loss of income that would result if the insured passed away. The beneficiary named in the life insurance policy receives the proceeds. Therefore for the purpose of gettting life insurance is to provide financial security for your family after you die. Before purchasing a life insurance policy, you should consider your financial situation, the standard of living you want to maintain for your dependents or survivors, and the types of life insurance available:
- TERM INSURANCE: Term life insurance is the simplest and least expensive type, as it pays benefits only upon the policy holder's death.
- WHOLE LIFE INSURANCE: Whole life insurance is where the policy holder pays a level premium on an annual basis.
- UNIVERSAL LIFE INSURANCE: Universal life premiums are based not only on the cost of the insurance, but also on the interest rate offered on investments.
- RIDERS AND OPTIONS: Most types of life insurance policies give individuals the opportunity to add optional coverage, or riders.
To learn more about life insurance and see which insurance option is right for you contact a Colorado Life Insurance agent today.
GET STARTED
To get the best life insurance quote, simply fill out the following form:
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