Unfortunately, there are no guarantees in life, which is why you need the protection and peace of mind afforded to you by life insurance in Gilbert, Arizona. It is a means of ensuring your loved ones are financially secure in case the worst happens. Every life insurance payment is a step towards protecting your family, as it helps cover expenses such as funeral bills, your mortgage, rent, college tuition, and other costs of living.
What San Tan Life Insurance Policy Do I Choose?
This depends entirely on your personal needs, as you’ll see below:
- Term life: This is a good option for someone looking to purchase life insurance for the first time. It protects you for a set period of time, but once the term expires, you will need to purchase a new policy.
- Whole life: This is a suitable option if you have a relatively higher income and your loved ones need a lot of protection. It keeps you covered for your entire lifespan and also builds cash value, which can be used in certain ways.
- Universal life: This is the best option if you want flexibility. Although you still benefit from lifelong protection, the interest rates and premiums are not set in stone.
No matter which life insurance policy you end up buying in San Tan Valley, ask yourself the following questions:
- Will my benefits or premiums vary on an annual basis?
- How fast do benefits build up on the policy?
- Are there parts of the premium or benefits that aren’t guaranteed?
Forms of Life Insurance
The good news for residents of Mesa is that life insurance does not have to be complicated. For the most part, you can choose one of the following three options:
- Term life: covers you for a set period of time. This is a good option if you can’t afford a more comprehensive policy. A downside is that you are without coverage when the policy expires because it has no conversion capability.
- Whole life: keeps you covered for your entire lifespan and also builds cash value.
- Universal life: This is a more flexible version of whole life; it is also permanent and builds cash value, but premiums and interest rates are not necessarily set.
When it comes to making an informed decision about your life insurance needs, Mesa residents should discuss matters with an independent life insurance agent. You can begin that process by getting a personalized life insurance quote. This handy tool allows you to enter your personal details so you end up with an individualized quote.