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LIFE

Life
Life Insurance for Suffolk, VA
Life insurance is a contract between an insurance policy-holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money (the “benefits”) upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger payment. The policy holder typically pays a premium, either regularly or as a lump sum. Other expenses (such as funeral expenses) are also sometimes included in the premium.

The advantages for the policy owner is “peace of mind”, in knowing that the death of the insured person will not result in financial hardship for loved ones.
Auto Insurance Chesapeake, VA
Life policies are legal contracts and the terms of the contract describe the limitations of the insured events. Specific exclusions are often written into the contract to limit the liability of the insure; common example are claims relating to suicide, fraud, war, riot and civil commotion.
Life-based contracts tend to fall into two major categories:
  • Protection policies – designed to provide a benefit in the event of specified event, typically a lump sum payment. A common form of this design is term insurance.
  • Investment policies – where the main objective is to facilitate the growth of capital by regular or single premiums. Common forms (in the US) are whole life, universal life and variable life policies.
Looking for affordable insurance policies in the Chesapeake and Suffolk, VA areas? We've got them!
Here are 10 Rules to Remember When Buying Life Insurance:
  • Understand and know what your life insurance needs are before any purchase and make sure that the company you choose can meet those needs.
  • Buy your life insurance from an agency that is licensed in your state.
  • Select a life insurance producer who is competent, knowledgeable and trustworthy.
  • Shop around and compare life insurance policy costs from other insurance companies.
  • Buy only the amount of life insurance you need and can afford.
  • Ask your life insurance agent about lower premium rates for non-smokers.
  • Read your life insurance policy and make sure you understand it.
  • Inform your beneficiaries about the kinds and amount of life insurance you own.
  • Keep your life insurance policy in a safe place at home and, in addition, keep your life insurance company's name and your policy number in a safe deposit box.
  • Check your life insurance coverage periodically or when ever your situation changes, to be sure it meets your current needs.
Contact Us today for more information on our policies!
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