One of the sad facts of life is that in one way or another, a person will have to consider the eventuality of death. A life insurance helps you to consider the effects that death would have on the people you leave behind. Here are some important facts about life insurance.
You need to insure your life you have anyone relying on you financially. It is obligatory that a spouse or parent will take up life insurance. However, it is also important when you have a dependent adult sibling or dependent parent, among others. If you are financially independent, stably retired or that no one would suffer financially if you died, then you do not need a life insurance.
Life insurance is a contract. It is an agreement between the life insurance company and the customer who carries a financial burden of the life and livelihood of another.
Life insurance does not equate monetary value to life. Instead, it is used to help compensate those left of the inevitable financial losses that come with the loss of life. It helps them cover lost income, outstanding debts, funeral expenses, and mortgages. Essentially, it helps to lessen the burden during grief.
Insuring life is a process that involves four different kinds of players. The insurer is the insurance company, and it is responsible for paying out claims when death occurs. The owner is the person who pays the insurance premiums to the enterprise. The insured is the person upon whose life, the policy is based. The beneficiary is the trustee or the person that receives the life insurance claim when the insured passes on. In some cases, it is possible to be both the owner and the insured.
Although most people avoid thinking and talking about death, planning for an unexpected death is surprisingly a great relief. Contact San Antonio, TX, Access Insurance Services to get started on a getting your life insurance today or visit us at 15500 San Pedro Ste 401, San Antonio, TX 78232-3739, and we will be waiting to help you.