Life Insurance

Choosing the right type and amount of life insurance coverage can seem tricky. The agents at J.S. Edwards & Sherlock in Beaumont, Texas, can help you select life insurance tailored to your needs.

How Much Life Insurance Do I Need?

The policyholder is free to choose an insurance policy’s death benefit. Your agent can help you decide how much life insurance to purchase. They may recommend that you consider the following when determining the amount you need:

·        How the premium may fit into your current budget

·        Whether you have unsecured and joint-held debt that a life insurance benefit could help pay off

·        How your death may financially impact the people you currently support

How Many Life Insurance Policies Can I Have?

No laws limit the number of insurance policies you can have. However, some insurers may be reluctant to issue a new policy if it seems as though you are overinsured.

It may be wise to purchase multiple-term life insurance policies as your coverage needs change over time. Your agent can help make a plan to keep you adequately insured as you launch a business, take on mortgage debt or start a family.

How Long Is Life Insurance Good For?

Life insurance may provide coverage for a set time period or until the insured person dies. There are two main types of life insurance:

·        Term life insurance provides coverage for a predetermined amount of time (usually five, 10, 15 or 20 years). When the policy’s term is up, the life insurance coverage automatically terminates. If the insured person dies during the policy’s term, the beneficiaries can file a claim to receive the death benefit.

·        Permanent life insurance (e.g., universal life insurance and whole life insurance) remains in force until the insured person dies, no matter what age they attain.

Where to Get Life Insurance

You can purchase life insurance from a reputable insurer through your agent. Your premiums will depend on multiple factors, including the policy type, death benefit amount and the insured person’s health status, age and gender.

Contact J.S. Edwards & Sherlock today to get personalized quotes for life insurance coverage.