Home » Life Insurance

Life Insurance

Planning for your family’s future after your death can be difficult, but it’s one of the most important things you can do. At First Community Ins & Annuity Center, we’re here to help you through these complex conversations and ensure that you find the right life insurance for your needs. Give us a call today to learn more about the life insurance options available to you.

What Is Life Insurance?

A life insurance policy is a contractual agreement between you, the insured, and the life insurance company. In this agreement, the insurer agrees to pay out a sum of money, called a death benefit, to your designated beneficiaries after your death during your policy’s term. There are a handful of different life insurance policy types, some of which have lifetime terms and others with specified term lengths (e.g., 10 years, 20 years, or 30 years). You agree to pay the insurer regular premiums in exchange for this coverage.

What Are the Types of Life Insurance?

Life insurance may provide coverage for a set time period or until the insured person dies. There are two main types of life insurance:

  • Term life insurance provides coverage for a predetermined amount of time (usually 5, 10, 15 or 20 years). When the policy’s term is up, the life insurance coverage automatically terminates. If the insured person dies during the policy’s term, the beneficiaries can file a claim to receive the death benefit.
  • Permanent life insurance (e.g., universal life insurance, whole life insurance) remains in force until the insured person dies, no matter what age they attain.

Different types of life insurance that fall under these two main categories may be right for you. Be sure to ask your First Community Ins & Annuity Center for more information.

How Many Life Insurance Policies Can You Have?

Although there aren’t laws limiting the number of life insurance policies you can carry, some insurers may be hesitant to issue you a policy if it seems you are already overinsured. Work with a First Community Ins & Annuity Center team member today to review any life insurance policies you may already have and discuss whether additional options may be of interest to pursue.

How to Get Life Insurance

If you’re ready to plan for your future, we’re here to help. First Community Ins & Annuity Center has been in business since 1990 and is prepared to help you find the life insurance solution that is right for you. Contact us today to find out what options are available for you.


This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

©2024. All rights reserved. | Powered by Zywave Websites