Life Insurance
Prepare for Life's Challenges
How do you know if you need life insurance? Good question. Which is why our independent insurance agents at Cornerstone Preferred Insurance will find out if life insurance is necessary for you and which policy you’ll need.
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Learn more about which life insurance plan is best suited to your situation by contacting one of our insurance agents. Call 888-840-4020 to get in touch with Cornerstone Preferred Insurance in Burbank!
FAQs
You’ve Got Questions - We’ve Got Answers
What is life insurance?
Life insurance is a protection for individuals who want to ensure financial security for their beneficiaries in the event of their death.
What are the different types of life insurance?
There are two main types of life insurance: term & whole. Term insurance will pay out if you die while you hold the policy, which is usually from 10 to 30 years. Whole life insurance, on the other hand, will pay out whenever you die.
What type of coverage does term life provide?
Most standard term life policies will cover any type of death in any place at any time. The only exception is suicide with the first 1-2 years, depending on your policy. If you already have an existing illness, however, that may change the terms of your policy. You can expect to disclose medical information during the application process.
What are the benefits of term life insurance?
Term life insurance is the most affordable type of life policy. You can choose how many years that the policy will last with a guarantee that the premiums won’t increase and the company won’t cancel you. In the event of your death, your beneficiary gets paid with little complication. Whole life insurance, on the other hand, is usually much more expensive.
How do I make my life insurance premiums more affordable?
Buy as soon as possible. The older you are, the more expensive your life insurance will become because it is more likely that you will develop an illness as you get older.
Consider getting term and permanent. Insurance companies often offer a package deal for term and permanent insurance. Term can allow you to have maximum coverage while you have more beneficiaries, while permanent will allow for extended coverage throughout your life.
Check your employer’s group life insurance policy. Your employer may offer life insurance at a lower cost than if you were to take it out by yourself. Remember that you run the risk of losing your policy after you leave your job!