Will your loved ones be financially secure when you pass away? Will your spouse be able to stay in your home or your children remain in college if you should die prematurely? Life insurance is fundamental to protecting your family. While there are different types of life insurance, they all do the same thing – pay your loved ones cash upon your death so they can be financially secure in your absence.
Life insurance proceeds are paid to beneficiaries income-tax free and can be used for several things such as paying medical and funeral expenses, paying off a mortgage or credit card debt, funding your child’s education, replacing your income by earning interest, or paying estate taxes, just to name a few. Valley Insurance works with clients of all ages and income levels throughout our state to provide affordable solutions.
Traditional college students and young, single professionals don’t have the same life insurance needs as families with children or middle-aged adults with a mortgage. The agents at Valley Insurance will take the time to help you design a life insurance policy that meets your needs, and we’ll continue to support you throughout life’s changes.
The two primary types of life insurance are term life and permanent life insurance. Term life insurance is generally less expensive and will pay out in the event that the death of the insured takes place during a designated time period or term. A permanent life insurance policy, be it a whole life or universal life policy, never expires so long as premiums are paid as agreed. These policies can also function as an investment and provide living benefits. Some term life policies can be converted into permanent life policies before the end of a term.
If you purchased an insurance policy several years ago, you may need a policy review to make sure that you have the coverage you need to secure your family’s future. As time moves on, the concerns facing your family change. Your insurance needs to keep pace with your life. Valley Insurance recommends that all customers meet with an agent periodically for a policy review. You will want to review your life insurance when:
Contact Valley Insurance today to learn more about effective, affordable Oregon life insurance policies. We look forward to helping you protect your family’s future.