Life insurance is one of the most important types of coverage that you can have. Most people are not as knowledgeable about life insurance as they could be and have questions that they will share with their independent insurance agent. At Insurish LLC in Northville, MI, we try to provide our customers with the answers to all of their life insurance questions.
Life Insurance FAQs
What is the benefit of whole life insurance?
Whole life insurance is something you will have for your entire life. It doesn’t have a term, it will always be there. It also earns dividends, so it will grow over time beyond even the face value of the policy. You can also borrow against the accumulated value if the need should ever arise.
Can life insurance be canceled?
The most common reason to have life insurance canceled is non-payment of the premium. If you are ever in a difficult situation financially talk to your carrier and explain the situation. Another reason the policy may be canceled is if it is discovered that false information was included in the original application. It could result in the benefit not being paid out.
Who can I choose as a beneficiary?
You can choose anyone you want and even multiple people. Keep in mind that if you choose children, they will have to follow the state rules about the age the benefit can be collected by them.
When should I buy life insurance?
If you are young and healthy, you will get the best rates on life insurance, but this may be when you need it least. If you have people that depend on your income, that is when you should buy life insurance.
We Are Here To Help
Give us a call at Insurish LLC in Northville, MI if you have questions about life insurance and let us help you get the answers you require.
