Las Vegas, Nevada Life Insurance
Purchasing a life insurance policy is one of the best things that you can do for your partner, children, grandkids, or other dependents. Unlike home, auto, and health insurance – which protect you now – life insurance offers no direct benefit to you during your lifetime; its importance becomes clear when you pass away. When you leave a whole- or term-life policy to your heirs, they don't have to worry about paying final expenses and can take time to grieve and heal without wondering how they will pay the mortgage.
A term-life policy only covers an individual for a set length of time, usually anywhere from 10 to 30 years, and then expires when the term is up. Such policies are great for young people and families who aren't financially stable and would be put into financial hardship if one parent passed away prematurely. These policies are very affordable; however, choosing to renew at the end of a policy will likely be more expensive, since you'll be older and in a different risk category.
Whole-life policies are valid until death, or as long as you continue to pay the premiums. Some offer cash value, which allows you to withdraw money from the policy if you're in a financial pinch. This must be paid back, or your beneficiaries will receive the value of the policy minus what was borrowed. If you choose to cancel the policy, you can usually get a refund of the cash value. Whole-life policies are especially helpful to older people who are caring for adult children with disabilities or are financially responsible for their grandchildren.
To learn more about life insurance solutions, to compare policies, or to speak with a knowledgeable member of our team, contact a life insurance agent at Sage Insurance Services, Inc. in Las Vegas, Nevada today. We're proud to be an independent agent serving the Las Vegas, Summerlin, and Henderson, Nevada communities.