Many people are committed to planning for their future but may not consider securing a life insurance policy. The agents at Travers Insurance serving the Webster Groves, MO area want you to know how very important it is to have a life insurance policy in place before you pass away.
Life insurance is designed to provide a financial safety net for your family when you pass away. There are several different life insurance policy options, so it can be a bit overwhelming to decide which type of life insurance policy will work best for you and your loved ones.
Three Most Popular Types of Life Insurance Policies
Whole Life Insurance
Whole life insurance provides lifelong coverage and offers a death benefit, along with a cash value option that increases over time. You can borrow against this cash value component during your lifetime if you want to pay off bills before you die.
Term Life Insurance
The most affordable life insurance policy option, term life insurance is only in effect with a death benefit payout if you die during the specified term. The most common terms are 10, 20, or 30 years. You can renew the policy, but it may cost more than the original premium.
Universal Life Insurance
This type of life insurance allows you to change the death benefit and even the premium payments based on your changing knees throughout your lifetime. This type of policy, similar to whole life insurance, accumulates a cash value. You can use this cash value to pay the premiums or increase the final death benefit payout.
Contact Us Today
To create the best life insurance policy for you and your beneficiaries, contact the experienced and trusted agents at Travers Insurance serving the Webster Groves, MO area today!
In the event of your passing, does your family have enough money to protect them for years or decades? Don’t leave them without the security a life insurance policy could provide. Travers Insurance, which provides insurance services in the Webster Groves, MO area, can answer any questions you may have about life insurance.
What is life insurance?
It is a contract between the policyholder and the insurance company, in which they agree to pay the designated beneficiaries a sum of money at the death of the policyholder. Depending on the contract, other things such as severe illness can also force payment of the policy. The policyholder pays a monthly premium, either in one lump sum or monthly. Final expenses can be paid with this benefit.
The individuals who need the greatest amount of life insurance would be those with a very high income to replace their income in the event of their death.
The benefit could be used for childcare for younger children, so the surviving spouse can continue to work, go back to work, or increase their number of working hours. Home cleaning and maintenance duties that were shared between the two of you could be difficult for one person to handle. Hiring someone to perform these services would be possible.
Get Life Insurance Today Outside Of Your Job
If you have a job that currently provides life insurance coverage, what would happen if you lost that job? The life insurance coverage will be lost too.
Don’t risk your family’s security. A life insurance benefit can ensure their future for years to come. And you can rest easy knowing that they will not have to be concerned about where the mortgage payment, car payment, or any other financial responsibility will come from.
Give Us A Call
Our team of experts at Travers Insurance in Webster Groves, MO will answer any questions you have or provide you with a quote to get you started. Contact us today. We’ll be glad to help.
Life insurance is one of the most undervalued types of insurance, and many people prefer not to buy it. However, life insurance is worth it, especially if you have beloved ones who depend on you financially. There are many myths about life insurance, and here is a list of the most popular ones that should be debunked:
Myth 1: Life Insurance Is Not For Young People
Many people do not purchase life insurance until they have financial dependents, such as spouses and children. For this reason, young people believe they do not need this type of insurance at all. However, the truth is that it is better to consider life insurance once you reach adulthood because it is cheaper when you are young.
Myth 2: Life Insurance Is Too Expensive
The truth is that life insurance is one of the cheapest types of insurance, and it is very affordable. The cost of life insurance also depends on certain factors, including your age, lifestyle, profession, type of insurance (whole life insurance or temporary), and some others.
Myth 3: You Cannot Get Life Insurance If You Have Health Issues
In fact, there are some policies built specifically for people with certain health conditions, including cancer and diabetes. It is recommended to consult an insurance agent to make sure you are applying for the right life insurance policy that provides you with the right coverage.
Travers Insurance In Webster Groves, MO – Your Trustworthy Insurance Provider In Missouri
If you live in Webster Groves, MO or any other surrounding town in Missouri, and you are shopping for life insurance, you should contact Travers Insurance. Our company specializes in all types of insurance, including life insurance as well. Our insurance agents will help you find a good policy based on your personal needs, health issues, and life circumstances. Feel free to give us a call if you have any questions or want to know more about the insurance options.
The life insurance that is right for you when you are 25 is probably not the life insurance that is right when you are 45 or 65. From time to time during your life, it is important to look at the type and amount of coverage you have. At Travers Insurance in Webster Groves, MO, we have 70 years of experience that we are happy to share with our customers.
Your employment changes
You may have a life insurance policy with your employer. If you decide to move on or you get laid off, what will become of that policy? Will you be able to keep it and take it with you? If you don’t know, you are not alone. Do you really want to let your employer control any of your life insurance decisions? Employer life policies are a nice bonus, but you need to have your own insurance that you control.
You get married
When you get married, you should take a look at your life insurance and perhaps change the beneficiary. You also need to consider whether your partner needs any support from you to survive. A working spouse can probably manage on their own, but if you have a mortgage, it might be too much to support on only one salary.
You have children
Children change everything. They are a long-term investment. You need to consider how they will be supported if you are not there to provide that support. Do you want to make sure the money is there for them to attend college? How young are your children? Experts say having between 7 and 10 years of income in life insurance is the best figure, but that may not be enough or too much for you.
Contact Travers Insurance in Webster Groves, MO when you are ready to review your life insurance.
Even though life insurance is not obligatory, it is worth getting. It is advantageous and beneficial for certain categories of people. Travers Insurance, serving Webster Groves, MO, has prepared a list of those who can benefit from life insurance more than anyone else:
- Breadwinners. If there are family members who depend on you financially, life insurance is a must. It is an income replacement that will support your beloved ones financially if something happens to you.
- Single mothers. Statistically, over 40% of American children are born to unmarried mothers. If you are one of them, life insurance is a perfect way to protect your children and provide them with a safety cushion.
- Single people with no kids. You may wonder, why does a single person need life insurance? The reason is that it is better to get a life insurance policy as early as possible. The earlier you get it, the less you will have to pay for it.
- Business owners. If you are a business owner, you do not want your beloved ones to handle your business debts. It may be a significant financial burden for them. Therefore, it is better to get life insurance that will pay off your debts if necessary.
- Stay-at-home patents. Life insurance does not replace the income of stay-at-home parents, but it provides the finances that will be used for covering all the jobs a stay-at-home parent was doing.
If you belong to one of the above-mentioned categories, you should think of getting life insurance. It will provide financial security to your beloved ones and give you peace of mind. If you are looking for a trustworthy insurance agency in Webster Groves, MO, do not hesitate to contact Travers Insurance – we will do our best to answer all of your questions and help you find a policy based on your needs and budget.