Life Insurance Information
Life Insurance in Clinton TN & Knoxville TN
When it comes to financial concerns, having proper life insurance coverage may provide reassurance that your loved ones will have the support they need after you die. With options that include temporary low-cost coverage and permanent coverage, you can get the best policy for your situation.
Over time, your family and finances may change. At ISG Insurance, we specialize in helping people in the Clinton, Tennessee, and Knoxville, Tennessee, area get the life insurance they need. Our agents are ready to help you get the right coverage for your current situation and guide you as you make decisions about changing or adding to your coverage in the future.
Call us at 865-457-9907 to learn more about your life insurance options.
How Does Life Insurance Work?
Upon your death, your beneficiaries must contact your insurance company to make a life insurance policy claim. They’ll fill out a simple form to receive a set amount of money, known as a death benefit. Your loved ones can use life insurance death benefits in any way they choose, and the money isn’t taxable.
Many people choose to use a life insurance death benefit to recover financially from a loss or to pay final expenses. They may use it to pay for funeral and burial services, everyday bills, reduce or debts or other expenses.
What Is Whole Life Insurance Versus Term Life Insurance?
There are two main types of life insurance:
Term life insurance. With this type of policy, you’ll get coverage for a set amount of time. Many insurance companies offer terms between five and 30 years. If your policy expires before you die, you can continue coverage by reapplying for a new term policy. If you die while the policy is in force, your beneficiaries receive a death benefit.
Permanent life insurance (whole life insurance and universal life insurance). This policy is permanent, which means you can’t outlive the coverage. The insurance company agrees to pay your beneficiaries a death benefit when you die. Until then, the policy builds cash value that you may be able to borrow against eventually. If you decide that you no longer need the death benefit, you may also be able to receive a lump-sum payment of the cash value minus surrender fees.
At ISG Insurance, we also offer the following life insurance options:
· Individual life insurance
· Group life insurance
· Long-term care insurance
· Mortgage protection insurance
· Disability insurance
· Second-to-die policy
· Key person (key men) insurance
Speak to one of our agents to determine which type of policy may best meet your needs.
How Much Does Life Insurance Cost?
A life insurance company evaluates applicants based on several factors, including the insured person’s age, sex, location, health status and lifestyle. This rating, combined with the type and amount of life insurance you want, helps determine how much you’ll pay for the policy.
Life insurance affordability is one of the main reasons people hesitate to get this critical coverage. However, many life insurance policies are much less expensive than expected.
Get a Life Insurance Quote Today
With an independent insurance agent on your side, you’ll get the help you need to decide how much life insurance to buy and find the right insurance company so you can get the most value for your insurance dollar. Contact the agents at ISG Insurance to learn more about life insurance or to request a free quote.