While most everyone is aware that life insurance is crucial, the particulars of these policies tend to remain out of reach. In this case, you need comprehensive answers to your questions, and the insurance brokers at Zimmerman Insurance Agency can provide them. This trusted team offers residents of High Point, NC, the knowledge they need to make an informed decision, including a primer on the basics of life insurance.

A No-Nonsense Guide to Life Insurance

Choosing a Policy

The first step to securing life insurance is understanding the difference between policies. You can choose from term, universal, and whole life insurance. Term insurance offers protection for a predetermined length of time, after which you can continue coverage but at a higher rate. Universal life insurance offers coverage for the duration of your life, albeit with higher premium costs. Whole life provides coverage for as long as you’re alive. It also offers cash value, which makes the policy considerably valuable from an estate planning perspective.  

Determining How Much Insurance You Need

The next step is to determine exactly how much insurance you need. If you have dependents, you’ll want to account for funeral and medical costs, which will fall to your survivors without a policy in place. You should also consider costs related to your children’s needs, such as educational expenses and funding for everyday necessities.

Understanding Costs

A few factors can affect the total cost of a policy. How long you’re expected to live, the total policy term, and how much money you’re asking for all affect the final tally. You’ll also need to provide information about your health, including any past and present medical conditions that may impact your health and well-being in the future. People with terminal illnesses or chronic conditions often find it difficult to secure a policy, while those in good health are privy to better rates.

From car to life insurance, Triad-area residents look to Zimmerman Insurance Agency for answers to their toughest questions. Schedule an appointment with a broker today by calling (336) 883-6512. You can also see the full range of services by visiting the agency online.