Life Insurance by Monique Navarro is an independent insurance agency that specializes in helping our customers get a life insurance policy with great coverage. Since we’re an independent agency, we’re able to work with many of the top insurance providers in Lillian to get customers the lowest possible rates.
If you’re interested in getting low cost life insurance but aren’t sure where to start, give us a call today. Our staff is highly trained and dedicated to helping you pick a life insurance policy that fits your needs.
We will help you understand the different life insurance policies, including whole and term life insurance policies. Our team can also help you if you’re looking for a universal life or final expenses life insurance policy, too.
Whole life insurance is a permanent policy that lasts for the duration of the policyholder’s life. When the policyholder passes away, the policy pays out a death benefit to the beneficiaries. The payout is meant to provide significant financial support to the family.
One benefit of a policy for whole life insurance in Lillian is that the policy will build cash value as the length of the policy progresses. The policyholder can borrow from the cash value to pay off debt or if they need emergency funds.
Another benefit of whole life insurance is that the premium payment will never increase, and the death benefit will never decrease. The price of the policy premium will depend on a number of factors, including the policyholder’s age, health, and payout amount.
Term life insurance is a policy that lasts for a limited amount of time. The policy can last for as little as a year or as long as 30 years. If the policyholder passes away during the term of the policy, the death benefit will be paid to the beneficiaries; however, the policyholder is likely to outlive the length of the policy.
Term life insurance in Lillian is most often used to provide coverage in the unexpected death of the policyholder. These policies do not have a cash value, but they can have a premium return or cash back option that returns a percentage of the premiums paid to the policyholder at the end of the policy term. These policies are usually the least expensive option for life insurance.
A universal life insurance policy in Lillian is similar to a whole life insurance policy; however, it’s more flexible. The premiums can be paid with interest earned by the policy, meaning the policyholder can potentially lower their premium payment.
Additionally, the policyholder can adjust the death benefit of the policy. Most policies only allow a policyholder to increase coverage, but with a universal life insurance policy, a policyholder can decrease their death benefit.
A final expenses life insurance policy in Lillian is a policy that’s designed to cover the end-of-life expenses of the policyholder. Also known as burial insurance, this policy will help to cover medical bills, legal expenses, burial costs, and more.
Unlike other insurance policies, a final expenses life insurance policy does not require the policyholder to undergo a medical exam. These policies are one of the better options available for people who do not need to provide their family with a large death benefit payout.