Life Insurance

  

Mapfre Auto & Life Policy 2% Discount,  Mapfre Auto, Home and Life Policy  13% Discount.

Life is filled with uncertainty. Many people choose to take out life insurance to help guide their financial future. Life insurance can help replace your income if you die. Your loved ones, who you’ve chosen as beneficiaries, can use this death benefit however they choose, whether that’s paying a mortgage or college tuition, paying off credit card bills or something else. 

How Does Life Insurance Work?  

Typically, you and your insurance agent will determine your coverage needs together. Sometimes, your insurer may engage a third-party administrator to conduct a physical exam. Afterward, you’ll receive your rates and select a suitable life insurance policy. Your policy premium depends on the insurance you choose, along with your risk and health.  

What Are the Types of Life Insurance? 

There are numerous types of life insurance, but the most common types people choose are:  

Term life insurance can provide money to your beneficiary if you die during your term. This term may be a period of 10, 20, 30 or more years, depending on the policy’s expiration date. If you don’t die during this time, your policy won’t pay, and you need to reapply for a new life insurance policy to continue coverage.  

Whole life insurance lasts for the remainder of your life once you enroll. Your policy won’t expire unless you stop paying it. A whole life policy offers a cash value investment opportunity, and the cash value component can be a source of income while you’re alive—in addition to the eventual death benefit.  

Other life insurance may be appropriate, and we can explore the available policies.  

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

How Much Life Insurance Do I Need?  

It’s common to relate the value of a life insurance policy with a person’s debt. Other people associate their income with their death benefit and choose to leave some of their salary to their beneficiaries. It’s your insurance policy, so the decision on what you want to do is yours.  

Protect Your Loved Ones 

Life insurance is an important decision for your financial future. You can trust that we’ll help you with coverage that meets your needs.  

Call 978-851-2727 to speak with a Schaffner Insurance Agency insurance agent to get started on your policy.