Life insurance is a fundamental financial planning product. It gives you the confidence to take on financial obligations (like a home mortgage or the cost of providing for your family) by removing the risk that an untimely death will bring financial ruin. Death stops your ability to earn income and pay for your obligations. Essentially, with life insurance you just pay a small manageable premium for the guarantee that a lump sum of money (the death benefit or face amount) will be paid if you die to your beneficiary.
The fact is, 86% of Americans say they believe that life insurance is a product most people need. However, deciding who needs the coverage, how much coverage they need and what kind of life insurance they should purchase is the subject of much procrastination.
L.I.F.E., a non-profit organization dedicated to providing you information concerning life insurance, has prepared resources to help you make smart life decisions. Click below for answers to these basic life insurance questions…
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The content of FAQ articles are general in nature and are not intended as a substitute for professional legal, financial, or insurance counsel for individuals. Insurance coverage forms vary by issuing company and by state. For specific advice contact us.
American Insurance NW Inc. is an independent insurance agency with offices in Lewiston and Moscow, Idaho.