What Orange County Life Insurance Can Do for Your Loved Ones
The brokers at ERM Insurance want you to understand why life insurance is a necessary aspect to include in your sound financial planning. In plain terms, a life insurance policy is a contract that allows an individual to name a beneficiary, or recipient, who will gain a sum of money when the insured passes away. Wondering how this can be applied in your life right now?
When you purchase a policy, your Orange County life insurance premiums form a pool of money. This will be given to your dependents as a form of protection in the unfortunate circumstances of your death. Your dependents can use this financial protection toward a variety of expenses. It can:
- Replace the income you were making that your dependents relied on.
- Pay state death and estate taxes.
- Cover funeral and burial costs.
- Among other protective assets…
Life Insurance lifts many financial burdens off the shoulders of those whom survive you. If you so choose, you can name a charity as the recipient of your life insurance policy, perhaps if you have no dependents. The compassionate brokers at ERM Insurance are specialized in helping you find the most sound Orange County Life Insurance policy to fit your lifestyle. Our brokers would be more than happy to answer any questions you may have regarding policy types.
What Type of Policy is Best for You
As a policyholder, payments are made either regularly or in one lump sum to fund the life insurance policy. Depending on the details of the contract, terminal illness can act as a trigger the make these funds available to your dependents. If the life insurance is not paid as a death benefit, it can hold cash-value and be borrowed or withdrawn as a form of savings. It’s important to understand the intricacies of life insurance so that it can best benefit your needs and the needs of those who survive you. The Orange County Life Insurance brokers at ERM Insurance have the resources to make this process as informative, protective, and stress-free as possible.
There are two major types of life insurance to take into account when choosing a plan that’s right for you.
- A Term Life Insurance plan pays only if the death occurs within the term chosen, which can be between 1 and 30 years, depending on what you deem appropriate. Because this is a more simplistic option, it generally has no other provisions to benefit your dependents. They only receive insurance protection in the event of your death.
- A Whole Life Insurance plan pays death benefit coverage regardless of when you die, making it a guaranteed value for the recipients. Its guaranteed death benefits are what sets it apart from a term life insurance policy.
Life is full of instability, whether in economies, health, or natural disasters. Compensate for these unpredictable events by protecting your assets and family with Orange County Life Insurance before death occurs. ERM Insurance brokers write life insurance coverage for all the major insurance providers, so you can feel assured our brokers present all the best plans and prices for your individualized life insurance needs.
An Orange County Life Insurance Broker at ERM Insurance would be glad to assist you in learning more about what Orange County Life Insurance policy best fits your needs. View our homepage to learn about our risk management ideology. Speak to one of our expert brokers today at (949) 222-0444.