LIFE INSURANCE
We know that trying to secure the right life insurance plan can get a bit overwhelming and it certainly takes a lot of time. From the research, to weighing out the pros and cons. Term vs whole life insurance & other variables. Call us, we can help you find the policy that's right for you.
Life Insurance Quotes Online
The fast and easy way to get life insurance Sacramento Ca
LIFE INSURANCE SACRAMENTO CA
In addition to helping you navigate your way through one of the most critical policy decisions you will make. We pledge to secure you with a custom insurance plan you can depend on. One that is tailored to your individual needs.
Policies we can help with include, term life, whole life, universal life, variable life, survivorship insurance and more.
AN AGENCY THAT CARES ABOUT YOU
At Eugene C. Yates Insurance Agency we want to help you determine which insurance policy type is right for you. Our dedicated team of insurance professionals understands California’s market and regulations. Call us today for custom life insurance quotes.
WHICH POLICY IS RIGHT FOR YOU
With a number of alternatives from which to choose it’s understandable that you may feel a bit anxious. So why don’t you enjoy living your life to the fullest and leave the insurance part to us! Insurance is all about you, and you are certainly worth insuring. Contact us today for your personal insurance rates. Our agents are standing by, to go over what life insurance companies are right for you!
Life Insurance Types;
TERM LIFE INSURANCE
Term life insurance, also known as pure life. Is insurance that guarantees payment of a death benefit for an exact term.
When your term ends, you’re required to have an updated medical exam. Which can cause a shift in rates.
Term life premiums vs whole life premiums can come at a significant discount.
Unlike some whole life policies, term lifepolicies can not be used to withdraw money from.
WHOLE LIFE INSURANCE
Whole life insurance; permanent insurance that offers lifelong coverage. Consistent premiums and a guaranteed return on the cash value of your policy.
Unlike term insurance where your policy has an end date, whole life is with you, your whole life.
Whole life policies feature a savings account. Part of your premium is invested in an account, which grows over time on a tax-deferred basis.
Due to the features that come with whole life, the premiums tend to be higher than term policies. If you want a policy that can grow with you. Will be with you for life. Then a whole life policy is right for you. Call us for whole life insurance quotes, we have agents that will answer all of your questions.
WHOLE LIFE AND TERM INSURANCE COMBINED
Supplement specific times of your life with term life insurance
As you take a look at your coverage needs, try to understand the two basic types of life insurance. Term life insurance Sacramento Ca and permanent life. Think about how they can potentially work in together to help you meet your goals.
Build a lifelong base of whole life coverage
There are no restrictions on how many insurance policies you can own. You can purchase from the same insurance company, or several different ones. Some clients own multiple term and whole life insurance Sacramento Ca policies.
EUGENE C. YATES INSURANCE AGENCY
What Is Life Insurance?
People today are told that they need insurance in case of an emergency. Life insurance is undoubtedly popular, with over 60% of American households having a policy. But what exactly is life insurance? It’s a contract with an insurance broker wherein the company accepts premium payments from you in exchange for a lump-sum payment to beneficiaries upon your death.
While it may seem morbid to think about our own mortality in this way, it is a smart idea to have insurance so that your loved ones can continue to maintain their standard of living if you die unexpectedly. You don’t want your loved ones to suffer a financial burden of losing an income, perhaps the only income, in addition to the emotional loss of your passing.
Who Needs Life Insurance?
Anyone who has people that are counting on them financially needs to have insurance. This would include the parents of dependent children. It also includes you if you are someone’s ex spouse, a life partner, or a business partner. If you are retired and comfortable financially and there is not anyone who would be negatively impacted by your sudden death, then you may not need insurance. But it is a necessity for most people. You have to remember that there are final expenses that happen to everyone who dies such as death taxes, the cost of the funeral and the cost of any unpaid debts which may negatively impact loved ones you leave behind. Having insurance eases the burden on loved ones and pays these expenses so they don’t have to worry about them. You can find out more information by visiting a local Sacramento insurance agency.
Is Life Insurance an Investment?
No, insurance is more of a risk-management tool than an investment. It is true that some insurance policies have an investment feature, but there are usually smarter places to put your money for investment purposes such as your 401(k) and Roth IRA. Insurance is there to provide peace of mind for the owner that the person insured is covered in case of an untimely illness or accident. It is there to help reduce financial burdens but is not generally considered to be an investment in the truest sense of the word.
Roles of a Life Insurance Policy
It is important to remember that an insurance policy is a contract between you and an insurance company that puts a monetary value on the life of an individual. The issuer is the insurance company. They are the ones that you pay the premium payments to and that pay out the claims in the case of the insured person’s death. The owner is the person who pays the payments to the life insurance company. The insured is the man or woman who is being covered by the insurance. And the beneficiary is the person who is paid the benefits in the event of the insured’s death. Read below for more information on the different policy types.
What’s better for your situation; Term life insurance vs Whole life;
Term life is the simplest option for life insurance. It is sometimes called “pure life” insurance. It covers the insured for a fixed amount of time, such as 10, 20, or 30 years. What’s the best term life insurance policy for you? You pay your premiums every month in exchange for a fixed lump-sum of cash to be paid out to the beneficiary in the event of the insured’s death. The payout is called the death benefit and it stays the same as the cost throughout the life of the contract. The premium prices are guaranteed for the life of the term, after which time the cost increases or you may let the policy lapse. If this happens some people think that they wasted their money, but you should look at the benefit of still having the insured be alive instead of “wasting” money on a insurance policy. Term life insurance rates are also the cheapest option, making it more popular with lower and middle-class families to protect the main bread-winner from an untimely death.
When shopping for term consider the time in your life that you will be most in need of coverage, like when your children are still living at home with you and your house is not paid off. Term life insurance rates by age, is something to keep in mind. Plan accordingly because you never know what life is going to throw at you. Many people like the peace of mind that a term life policy gives them because it lets them know that their family is protected. Many people also say that you can’t put a price on the Peake of mind generated by a life insurance policy. Keep your expenses handy when making your calculation and select enough term insurance so that you can pay off your bills and pay for things like final expenses and child care if the insured passes away prematurely. You want to make sure that you select an amount of term coverage that will provide enough income to replace the income that is lost for a couple of years as well as take care of long-term educational needs for dependent children. Ask about term life insurance with no medical exam! Agents are standing by.
Permanent Life contains the same probability of death figures as term life insurance except it also holds a savings benefit. Your insurance broker can explain the difference between term life insurance and permanent life insurance in person if you have more detailed questions. This benefit is sometimes referred to as a cash value, and helps the policy to remain forever. There are two types of permanent life insurance which include universal life insurance and whole life insurance. Common questions our life agents can answer would be; Why is permanent life insurance a bad investment? What’s the best permanent life insurance? Is permanent life insurance tax free? What are the disadvantages of permanent life insurance? What are the best permanent life insurance companies?
Whole life is a type of permanent life insurance designed to last one’s entire life. Because of this feature the premiums are usually higher. Whole life insurance has a cash value based on investments that grows tax deferred meaning that you will not have to pay any taxes on the gains while they grow. How it works is that the insurance company puts part of your money into a high yield savings account, and with every payment the cash value increases. This can be a huge burden to be lifted off of your mind as with most investments you have a capital gains tax that you have to worry about paying every year as your investments grow. This is not so with whole life insurance.
You also have the option of putting your surplus money to work for you with a whole life insurance policy. You can choose to put your surplus money into the insurance company itself and receive dividends which you can then let accumulate interest or use to increase the cash value of your policy. You can also use the money to reduce your monthly premium payments.
You can also borrow money against the account or give up the policy for its cash value. It is important to remember that you need a large amount of cash value to borrow against, as you cannot borrow against the face amount of the cash value. This may come in handy if you run into an emergency in life and you need to borrow some money fast. Just remember that when you borrow money against your life insurance policy, you reduce your death benefit. Also, if you give up your policy and exchange it for cash then you will no longer be covered. So plan carefully. If is best not to borrow against your policy if it can be avoided, and giving it up for the cash value should only be used as a last ditch effort in an attempt to deal with an emergency.
Universal Life is a type of permanent life insurance that is also designed to last one’s entire life. The difference between whole life and universal life is that you may be able to change the amount of the premiums and raise or lower your coverage amount throughout the life of your policy. Some of these policies are made to focus on providing both death benefit coverage and a cash value through investment. While others are made to produce a guaranteed death benefit. The only bad thing about universal life policies is that the premiums are usually the highest, higher than term life and even higher than whole life.
Universal life is sometimes called “adjustable life insurance” because of its flexibility. You have the choice to pay your premiums at any time and in any amount once you have made your first payment. This gives you the flexibility to get caught up on payments when times are good and give yourself a cushion financially so that you can go longer stretches of time without paying your premium when times are bad and still keep your policy. You can also use your cash value to pay premium if you fall on financially hard times.
You can also have a fixed amount of death benefit or an increasing amount that is the same as the face value of the policy plus the cash value that you have accumulated. The only drawback of universal life insurance policies is the interest rate. If the policy performs well, then your savings will grow. But if it performs poorly then you may lose some cash value over time.
EUGENE C. YATES INSURANCE AGENCY
Life Insurance Sacramento Ca
Some people feel that insurance is only for the rich. But it is the working person of modest means that really needs to consider what a sudden death and a loss of income can mean to those left behind. We’ll show you the benefits of insurance, in a whole new way. And explain why life insurance rates by age can vary.
Determine what your needs are for insurance. Will you need a whole life policy or a term life policy? Research the different possibilities and decide what type of coverage will work best for you and your family.
It is important to purchase insurance when you are young and healthy. This is because many insurance companies have stricter guidelines for the elder or sick. Most life insurance companies who do provide for the older or sick people with insurance often raise the premium rates due to their condition.
If you are using the Internet to request life insurance quotes, don’t provide too many personal details. There are a lot of insurance related phishing scams online. Remember, the only initial information you need to provide for an insurance quote is your zip code.
If you have a family that depends on the income that you provide, you should purchase insurance. This will protect your loved ones by providing some income in the event that you pass away unexpectedly. Insurance is for those that survive you. If you care about your family, purchase life insurance for yourself.
Make sure to get many different insurance quotes when looking for a policy. Each life insurance company rates its customers based on many factors. Assigning different weights to each. For instance, if you are a smoker, different insurance companies will give you different rates.
When pursuing a broker to give you options for your insurance policy, you should never accept a one-meeting recommendation. This is because after just one meeting, a broker has not analyzed your situation very carefully and considered all options for you. Therefore, you should not accept the offer and ask for more information. Our agents want you to be fully onboard with how you want to protect your family.
As mentioned at the beginning of this page, life insurance and travel insurance are not just for the rich with money to spare. Insurance can be a life saver for a family who depends on one income and finds that family breadwinner suddenly taken away. By implementing the advice on this page, you can protect your family and help them make it through an untimely death and not be stuck in debt.
KEY POINTS
Before investing in a life insurance policy, learn the pros and cons of each of the four types.
These are term life, whole life, universal life, and variable life . To understand the differences, you may want to hire a financial professional. Not only can an insurance professional explain each type of life insurance to you, but he or she can suggest the best life insurance that suits your needs.
Always remember that insurance is a contract. It is a business deal between you and an insurance company. In order to collect a benefit for your beneficiary it is necessary that you make all of your payments in a timely manner, otherwise your policy may lapse and you will lose coverage.
Almost everyone needs insurance. Especially if you have dependent children or anyone really who is depending on you financially. Life insurance is there to give you and your loved ones peace of mind that in the event of a tragic death of the insured, the beneficiaries are covered under the policy. If you take your responsibility of caring for your loved ones seriously, then you should also seriously consider having an insurance policy that fits your needs and your budget.
Insurance brokers can give you timely and important information and quotes of different policies that you may not know otherwise. There is no substitute for sitting and talking things over with a licensed broker. They have studied the ins and outs of the insurance world and will be able to assist you in making one of the most important decisions of your life, which is how you will cover it. They will help you make a budget so that they know how best to help you plan for the financial necessity of life insurance. And they will be there to help you with questions about your policy and how it works that may not be able to be easily answered with just a computer search.
Term life is the simplest and cheapest option. This is a good option for you if you have a limited budget, but still want the peace of mind that a life insurance policy affords. Term life will cover you during the most vulnerable period of your life, such as when your dependent children are young or your mortgage is still unpaid. If you purchase term insurance, shop around for the best policy price as there are many different ones to choose from and every life insurance company offers term.
The difference between universal life and whole life isn’t great, because they are both designed to cover you for your entire life. But whole life, while cheaper, does not have the flexibility that universal life does. With whole life you have to pay your premiums at a fixed rate, but with universal life it is variable. Keep these facts in mind when making your decision.