Life Insurance

In life, there’s always a chance that tragedy might strike, and in the event of your untimely death, you want to be able to protect the people and things you care about. A quality, personalized life insurance policy from Ted Hamm Insurance Agency will make sure you can do so. 

Why Do I Need Life Insurance? 

Life insurance is an investment—and one of the most important ones you will ever make, at that. In the event of your sudden and unexpected death, your loved ones could struggle to afford many considerable, ongoing expenses—like household debts, student loan debts and estate taxes—on top of the actual funeral costs. They might also face the strain of living without the income you once provided and could even struggle to keep your business open following your loss. Life insurance enables them to be able to withstand this challenge. 

Understanding Life Insurance 

There are two fundamental forms of life insurance:  

Term Life Insurance  

A term life insurance policy provides a death benefit to your loved ones as long as you die during the policy’s term. This period might be 10, 20, 30 or more years, depending on the expiration date of the policy. If you do not die during this time, then the policy does not pay. You will also have to reapply for a new policy if you want to continue to have coverage. 

Permanent Life Insurance 

Permanent life insurance includes both whole life and universal life insurance. These plans will not expire unless you stop paying for them. Therefore, they last for the rest of your life. Additionally, these plans offer cash value investment opportunities in addition to death benefits. The cash value component can enable you to receive a source of income during your lifetime. 

Plus, there are many more specific types of life insurance coverage, such as: 

• Final expense insurance 
• Group life insurance 
• Individual life insurance 
• Key person insurance 
• Long-term care insurance 
• Mortgage protection insurance 
• Second-to-Die policy 

Each type of plan has its own advantages and drawbacks, which is why it’s important to speak to a professional to understand what’s right for you. 

Get Life Insurance Today! 

As you put together your life insurance plan, you’ll want to create a package to help your family live comfortably—even after you are gone. Ted Hamm Insurance Agency offers policies throughout California, and we’re here to help you find the perfect coverage solutions. 

As your life changes through significant events, your policy will likely evolve too, and Ted Hamm Insurance Agency will be here to help you along the way. Contact us to learn more about life insurance or request a free quote now.