Life insurance options
In most cases people don’t make money out of insurance, Life insurance is an exception. Generally, insurance is not about winning, but rather about not losing. Life insurance is a bit difference in that someone will gain financially when your time is up. But that is the way you want it, the way it should be. Because those who gain financially are those you love and hold dear. If you want to look after those you love and care for after you are gone, then you need life insurance.
Hughes Insurance specializes in life insurance coverage and can help with the right policy in Forest Hills NY, Glendale NY, Maspeth NY, Middle Village NY or Queens NY. Life insurance enables you to provide for those who are dependent on you and who love you and who need you. But when you die you can no longer directly provide for them. They could be your children, your wife or someone else that is special in your life. Life insurance is the vehicle you need to take care of them for a long time after your passing.
There are four main types of life insurance. Term life insurance, whole life insurance, disability and endowment insurance. Term life insurance covers your life for a specific period of time, typically 20 years. This is a good option for a young couple, or couple with a young child. This is the cheapest form of life insurance and will help take care of those you love should the unexpected happen.
Whole life insurance covers you for the rest of your life. As long as the premiums are paid, there is no specific time frame. Another option and an important one is to add disability cover. Should you become disabled and unable to provide, your life insurance will. Endowment or investment is another option you can have with your life insurance. That means a portion of your premium is used for investment purposes that will become a cash value on your policy.