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We Provide Comprehensive Life Insurance Plans
Life Insurance lets you take care of your loved ones’ needs in an unforeseen event. If you don't have life insurance coverage, it's time to think about this critical financial safety net. When you need a professional who can help you choose a comprehensive Life Insurance plan, contact Med-Care Senior Insurance Solutions. We make it simple to get a plan you can afford.
What is Life Insurance?
When you buy a life insurance policy, the insurance company agrees to pay a certain amount of money to your loved ones when you die. These funds can help your family members replace your income, pay outstanding debt, and settle other final expenses. Without life insurance, they may struggle to cover the mortgage and household bills, especially if you are the primary earner. In exchange for life insurance coverage, you pay a monthly premium.
What Does Life Insurance Cover?
Traditional life insurance policies cover nearly all kinds of death, whether by illness, accident, or almost any other circumstance. After you die, your beneficiaries may then use the death benefit payout to cover all kinds of expenses or debt, including:
- End-of-life expenses and funeral costs
- Estate planning costs
- Monthly bills and mortgage payments
- Childcare and college tuition
- Medical expenses
- Other financial obligations
What are the Main Types of Life Insurance?
Term Life Insurance
Term life insurance is one of the most popular and affordable types of insurance. It’s a straightforward policy that lasts for a specific number of years — typically 10 to 30.
Whole Life Insurance
Whole life insurance is a popular type of permanent life insurance, meaning your coverage will be active your entire life as long as you continue to pay the premiums. It comes with a separate cash value — a tax-deferred savings component — in addition to the standard death benefit.
Final Expense Insurance
Final expense insurance, also called burial insurance, pays a small death benefit to your beneficiaries to help cover your end-of-life expenses. Since it isn't meant to replace lost income, final expense insurance is usually only recommended for older adults who want a small policy to cover funeral costs.
For more information about our Life Insurance Plans, or to schedule an appointment, call us at 575-208-8824.