Posted On: June 21, 2021

If you have life insurance or are looking into getting life insurance, you are probably wondering what it is and what it covers. Life insurance is an additional protection plan that you can get through your insurance company. 

In the event of your death, your insurance company would pay your family members or beneficiaries a large amount of money to use for any expenses they wish. Most of the time, this money is used to pay off any debts or is put away for future uses. 

To get into more detail, we will break down the expenses that life insurance covers:

End of life expenses: Funeral costs can get expensive, ranging somewhere in the $10,000 mark. Most life insurance policies include the costs of funerals.  Paying off debts: After your passing, the money from your life insurance can be used to pay off your mortgage so your family can continue to live in their home. Your family can also use the money to pay off any car loans, credit cards, and personal or student loans.  Child care or dependants: Your life insurance policy will help cover the costs of raising your child, and this can include daycare, summer camps, recreation costs, college, and anything else that your child needs. If you have a dependant, such as a person with special needs, they will be protected as well.  Medical expenses while you’re still living: If you have been diagnosed with a terminal illness, your life insurance will help cover the costs of your medical care. Though this will help significantly reduce medical expenses, your beneficiaries may receive less money upon your death.

There are two types of life insurance policies, Term Life Insurance and Permanent Life Insurance. Term Life insurance is a policy that lasts for a certain amount of years, ranging from 10 to 30 years. It’s also the more affordable type of life insurance as you only need it for a specific amount of time. Whereas Permanent Life insurance covers you for a lifetime, and that being said, it’s the more expensive life insurance.

Life insurance can be complicated to understand. That’s where the experts at Seguros Lara come in. We can help answer all of your questions on life insurance and find you an insurance company that works for you. 

For more information on services that we provide, visit our website or give us a call at 1(864)354-6670. We will answer any questions you may have. Contact Seguros Lara today!  

The post What Does Life Insurance Cover? appeared first on Seguros Lara.

Re Posted From: What Does Life Insurance Cover?

Seguros Lara Insurance

Posted On: June 21, 2021

If you have life insurance or are looking into getting life insurance, you are probably wondering what it is and what it covers. Life insurance is an additional protection plan that you can get through your insurance company. 

In the event of your death, your insurance company would pay your family members or beneficiaries a large amount of money to use for any expenses they wish. Most of the time, this money is used to pay off any debts or is put away for future uses. 

To get into more detail, we will break down the expenses that life insurance covers:

End of life expenses: Funeral costs can get expensive, ranging somewhere in the $10,000 mark. Most life insurance policies include the costs of funerals.  Paying off debts: After your passing, the money from your life insurance can be used to pay off your mortgage so your family can continue to live in their home. Your family can also use the money to pay off any car loans, credit cards, and personal or student loans.  Child care or dependants: Your life insurance policy will help cover the costs of raising your child, and this can include daycare, summer camps, recreation costs, college, and anything else that your child needs. If you have a dependant, such as a person with special needs, they will be protected as well.  Medical expenses while you’re still living: If you have been diagnosed with a terminal illness, your life insurance will help cover the costs of your medical care. Though this will help significantly reduce medical expenses, your beneficiaries may receive less money upon your death.

There are two types of life insurance policies, Term Life Insurance and Permanent Life Insurance. Term Life insurance is a policy that lasts for a certain amount of years, ranging from 10 to 30 years. It’s also the more affordable type of life insurance as you only need it for a specific amount of time. Whereas Permanent Life insurance covers you for a lifetime, and that being said, it’s the more expensive life insurance.

Life insurance can be complicated to understand. That’s where the experts at Seguros Lara come in. We can help answer all of your questions on life insurance and find you an insurance company that works for you. 

For more information on services that we provide, visit our website or give us a call at 1(864)354-6670. We will answer any questions you may have. Contact Seguros Lara today!  

The post What Does Life Insurance Cover? appeared first on Seguros Lara.

Re Posted From: What Does Life Insurance Cover?

Seguros Lara Insurance