Life Insurance: What Am I Paying For?

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life insurance oakley caLife insurance is a valuable insurance policy – even though it may not always feel like it!

Does life insurance feel like a weighty outgoing each month, rather than a good value investment? After all, unlike a house or car, you’re buying peace of mind—rather than something you can physically touch. Premiums can increase over time and seem to fluctuate more than you’d like them to.

A life insurance policy is designed to maintain your family’s finances when you are no longer there to do so. From paying funeral expenses, remaining debt, and your child’s college fund, life insurance is a policy that wholly supports your family.

What makes life insurance premiums rise?
Put simply, as long as you pay regular premiums to a life insurance company, then the policy should guarantee to pay out a sum of money if you die within the term of the policy. In essence, the greater your risk, the higher the premium is likely to be. Those risk factors are based on:

  • Age
  • Current health and weight
  • Medical history
  • Smoker status
  • Family’s health
  • Occupation
  • Lifestyle
  • Recreational activities

 

Those who have diabetes, high blood pressure, hereditary heart disease, or work a dangerous job (such as a firefighter, stuntman, or pilot), will have to pay more than someone in good health who works in an office.

Is life insurance that important?
Let’s put it this way. You probably use your income to help run the home, and look after your family. If you were to fall ill or suddenly die, that income would no longer be there
. Different types of life insurance can give your family different types of cover, and it’s up to you to decide which best suits your needs!

In short, life insurance is worth its weight in gold!

For all of your life insurance needs in Oakley, California, contact Agers Insurance Services! Our trusted professionals understand the importance of quality insurance coverage!