Most of us have heard of life insurance but may not fully understand its benefits or who should invest in it. Life insurance policies can be flexible and designed to fit a set period or a lifetime. Our team at Attain Insurance is committed to helping Fort Payne, AL residents understand life insurance and get the coverage they need.
What is Life Insurance?
Life insurance is designed to pay a set lump sum of money to a person(s) or beneficiary in the event of your death. Your beneficiaries can use the money any way they see fit. You can purchase or invest in a term policy for a set period of time. You can also purchase a lifelong or full-life policy that will last for the duration of your entire life. Typically, your rates are better or less expensive the younger you are when you invest in life insurance.
I don’t have any kids, and I don’t own a home. Is life insurance a good investment?
It may be difficult to see the value of life insurance if you’re childless and don’t own a home. Finding a benefit in insurance that pays another person when you aren’t financially responsible for anyone may seem unnecessary. However, there may still be some benefits that life insurance can provide. If someone else had to pay for your burial, life insurance may have benefits that would apply to you. Life insurance may be a good investment if you have any bills that need to be paid upon your death. Whether you have dependents, a spouse, or a mortgage, there may still be a benefit in investing in life insurance. Call us if you have more questions about life insurance and its benefits. We’d be happy to answer all of your questions.