Protect your loved ones financial future with a life insurance policy. Whether you have just gotten married or are considering retirement, a life insurance policy from Bend Insurance can help lighten your family’s financial burden if you are no longer there to provide for them. As a policyholder, you’ll be required to pay regular premiums in exchange for a lump-sum death benefit paid to your beneficiaries. If you are looking for a life insurance policy here in Central Oregon, we have got you covered.
Why Would Individuals Need Life Insurance?
The top reason why individuals would consider having life insurance is to protect their loved ones from potentially devastating financial losses that can result if they die prematurely. It brings peace of mind by offering protection for the uncertainties in life. It helps protect your family’s financial future by;
What is Covered Under a Life Insurance Policy?
There are different types of life insurance policies, each with unique characteristics to meet different needs. The most common include;
Term life insurance – This is temporary, lasting anywhere between 10, 15, 20, or 30 years. It’s an affordable way to provide life insurance protection for a limited period, with the option to transition to a permanent policy in the future.
Permanent life insurance – This provides coverage for your entire life. Whole life insurance and universal life insurance fall here. These provide permanent (lifelong) coverage with a cash value component which means they have a savings or investment feature which allows policy owners to collect money from the policy while they’re still alive.
How Much Should the Average Person Pay for Life Insurance?
The amount you pay for your life insurance coverage depends on a lot of variables like age, sex, health history and insurance type (average whole vs. term life insurance). Naturally, as you become older, buying life insurance becomes more costly because your health declines and the odds of dying sooner increase. Younger people are less likely to die soon, so life insurance is averagely cheaper. That said, the average cost of life insurance policy’s premium according to data from S&P Global is $44 per month.
Life Insurance Agent in Bend
A qualified and independent insurance agent can help determine how much coverage you need and review what products and policies are right for your family’s needs. He/she can help you compare life insurance policy options and estimated rates from several top life insurance companies to find quality coverage you can count on.
Life insurance is a fundamental part of having a sound financial plan. We would like to show you a range of coverage options you can tailor to your priorities and budget to meet your needs now and in the future. Contact us today and get started in adding more security to your financial future with life insurance.
Request a life insurance quote