Barouh Integra Insurance has access to almost every major life carrier
A death in the family is not only emotionally devastating, it can also take a tremendous toll on the future financial security of a family. Suddenly, without the deceased’s income, paying the mortgage or providing for a child’s college education may become much more difficult.
Those who buy life insurance do so to help ensure their loved ones are taken care of financially. Life insurance is a promise by an insurance company to pay those who depend on you a sum of money upon your death. In return, you make periodic payments called premiums. Premiums can be based on factors such as age, gender, medical history and the dollar amount of the life insurance you purchase.
In the event of your passing, life insurance provides money directly (and tax free as it is a contract and not considered income) to the individuals you select, your beneficiaries, who can use the money as they see fit, including:
- Replacing lost income
- Covering basic living expenses
- Paying household debts, estate taxes and funeral expenses
- Funding a child’s education
- Supplementing retirement savings
More affordable than you think!
In fact, many people can get term life insurance coverage from a quality company for a surprisingly low price.
Premiums are typically based on factors such as:
- Age, sex, height and weight
- Health status, including whether or not you smoke
- Participation in high-risk occupations
Life insurance gets more expensive as you get older, and the type of coverage you choose will also affect your premium. Rates for term insurance are typically lower, while rates for permanent policies are typically higher.