Comparison Shopping and Life Insurance

A Guide to Comparison Shopping for Life Insurance

Comparison shopping is a savvy strategy for all purchases, and it’s particularly essential when it comes to life insurance. The goal is to get maximum value for money, ensuring that your beneficiaries receive everything you intend for them.

Understanding Your Options

The first step in comparison shopping for life insurance is to familiarize yourself with your options. Depending on your specific needs and situation, you might consider term life insurance, permanent life insurance, or no-medical-exam life insurance.

Determining Coverage Amount

Next, you need to calculate how much coverage you need. Consider factors such as living expenses, mortgage payments, educational costs, and funeral expenses. Also, consider income replacement and any debts or expenses you may leave behind. Once you have a clear picture of these aspects, you can start gathering quotes and begin the comparison process.

Choosing the Right Policy

Once you’ve compared quotes and considered your needs, you’re ready to apply for the policy best suited to you. Be prepared to provide details like age, zip code, income, and health status. Remember, the aim is to ensure your beneficiaries are well taken care of.

Why Choose Associated Insurance Agencies Inc. in Westerville, OH?

If you’re in the Westerville, OH, area and looking for life insurance, we at Associated Insurance Agencies Inc. welcome you to include us in your comparison shopping. Our team of friendly and knowledgeable agents can support you through this important decision and ensure that your beneficiaries are cared for as you intended.

When should you review your life insurance coverage?

Life insurance is not something that should stay the same forever. Your needs are less likely to be the same at 20 years old as at 40 or 60. Talking to your independent insurance agent can help you determine if you have the correct amount of life insurance. At Associated Insurance Agencies Inc. in Westerville, OH, our knowledgeable agents are here to help you with your coverage. 

When you buy a home

Purchasing a home may be the first adult thing that you do. This is the point when considering life insurance may first become a thought for you. Protecting your home in the event of your disappearance protects your loved ones from being stuck with your mortgage. 

When you change jobs

When you change employment, your life insurance won’t go with you. You may have the option to maintain the coverage, but the cost may not make it the right option. 

When you get married

When you get married, you need to review the beneficiaries of your life insurance policy. You may want to make your new spouse the beneficiary. 

When you have children

Having children changes everything. Your level of responsibility grows exponentially. You need to provide protection for twenty or more years and perhaps for multiple children. That requires serious thought. You want them to be able to grow up in the home they know and not have to suffer any further loss after losing a parent. 

When you retire

When you retire, your income may be less, and you may wonder if you still need life insurance. That depends on your personal financial situation. Talk to your insurance agent to get the correct information. 

Contact Associated Insurance Agencies Inc. in Westerville, OH when you need to review your life insurance coverage. 

Can You Buy Life Insurance Without an Exam?

Life insurance is an important financial planning tool. Life insurance is an excellent option if you want to create a more secure future for your family or business partner. Residents living in and around the Associated Insurance Agencies Inc. are proud to offer the residents of Westerville, OH quality insurance products they can count on to give them peace of mind. 

Life Insurance Coverage

Life insurance isn’t a one-size-fits-all product. There are many types of life insurance, and the policy provider may require you to have a physical examination. Not all insurance policies require you to have a medical exam, however. The best way to determine which policies require this type of medical examination is to consult a licensed insurance agent. Based on your needs, they can recommend policies that suit your needs. 

Our highly knowledgeable agents can work with you to determine your needs and preferences for policy pre-qualifications. Once they understand your needs, they can work with you to provide the most beneficial recommendations. Not only can they assist you with submitting documents necessary to secure the policy, but they can also support you should you need to make any changes or provide beneficiaries with support for claims submissions. It’s all a part of our commitment to excellence and dedication to ensuring customer satisfaction. 

Contact Associated Insurance Agencies Inc. Today

If you want to learn more about life insurance and your different pre-qualifications and options, please call or stop by Associated Insurance Agencies Inc. We are committed to offering the residents of Westerville, OH, insurance protection they can trust. Let us help you plan for the future. 

The difference between whole and term life policies

Whole and term life insurance policies are two of the most popular types available at Associated Insurance Agencies Inc. While both provide financial protection for surviving family members in the Westerville, OH area, they have distinct features that make them unique. 

Whole life insurance is a type of permanent life insurance policy that provides coverage for your entire lifetime as long as you continue to pay premiums. Whole life policies accumulate cash value over time, which can be used to help cover future premiums or as collateral for loans. Whole life policies also include a death benefit that pays out when you pass away.

Term life insurance provides a death benefit for a period of 10-30 years. During this period, you pay an annual premium, and your family will receive the death benefit if you die before the term ends. Unlike whole life policies, term policies do not accumulate cash value and will not pay out when the policy expires. 

The decision between whole and term life insurance depends on what coverage fits your needs best. If you need lifelong coverage with a cash value component, whole life is the way to go; if you need coverage for a fixed period, look into a term policy. Knowing the difference between these two policy types can help give you peace of mind that your family will be cared for after you pass away.

If you have additional questions about life insurance or want to find a policy that works for you, call us at Associated Insurance Agencies Inc. today. We proudly serve the Westerville, OH area.

Two Main Types of Life Insurance

There are two main types of life insurance that you can get. The two types are very different, and it’s a good idea to understand them both before choosing the best policy type for you. Each comes with its own benefits as well as its drawbacks. When you need life insurance to protect your loved ones, give us a call today at Associated Insurance Agencies Inc. in Westerville, OH.

Whole Life Policies

A whole life insurance policy is a type that is popular for its many benefits. It is named the way it is because it covers you for the whole duration of your life. Even if you become quite elderly, the policy will stay in effect if you keep making the premium payments as agreed in the contract. If you do that, the company can’t cancel your policy, which will stay in place until you pass. Keeping your policy also builds a value that is there for you should you need it. This is an amount that you can borrow if you should ever have a financial problem and need the cash. 

Term Life Policies

When you have a term life policy, it has the benefit of being inexpensive. This type of policy is popular for its low price. However, it is also named for the amount of time it lasts, for a specific term. These policies have a set period that they last, and then they will expire. This can be a drawback, but many people find that it’s the only type they can afford on their budgets. 

Get Life Insurance

When you need to get a life insurance policy put in place, call us at Associated Insurance Agencies Inc. in Westerville, OH.

Planning for Your Funeral: A Beginners Guide For Serious Thinking

A funeral is one of your most challenging and important decisions. The thought of planning for the inevitable can sometimes feel unbearable. But planning for it now can save your loved ones added stress and burden when your time comes. Associated Insurance Agencies Inc. understands this process is critical, so we’re here to help those in the Westerville, OH area plan for the future.

Choose Your Disposition Method.

One of the most important things to decide is what method you will use to dispose of your remains after you die. Some people donate their bodies for medical training to help future doctors, while others prefer to have a more traditional funeral. Many options allow you to select a different method of disposition to best suit your needs and preferences. If you are more earth-conscious, you can even have a green burial.

Decide How You’d Like To Be Memorialized.

This can be very personal. Do you want a religious ceremony or a small private gathering? Maybe you’d prefer a celebration of life party? It’s essential to do your research and get several estimates to better understand what you’re looking at and what your final costs will be.

Determine Your Final Resting Place.

The next step is to determine your final resting place. If you want to be buried in a cemetery, you may need to reserve your plot ahead of time. If you wish to donate your organs, you need to register for the program first. Scattering your ashes legally often requires permission from the local authorities first.

Plan Your Payment.

The next important step is to work out the costs of your funeral. Address any outstanding debt before the funeral to make sure you have the funds to pay for your funeral. It’s important to remember that if you don’t pay off any debts before your death, your loved ones may have to pay for the funeral and related costs. Make sure you have enough money saved for your funeral costs, either as a gift for your loved ones or as a separate fund.

Consider Life Insurance.

One of the final things to consider is purchasing life insurance. This insurance pays a death benefit if you die while on the active policy. The death benefit can then be used to pay for your funeral costs or to help your loved ones pay off any remaining debt. Associated Insurance Agencies Inc. of Westerville, OH can help you find the right life insurance coverage for your final plans.

How Does My Family Claim Life Insurance When I Die?

Once a loved one has passed away, life insurance beneficiaries will need to know the steps to take in order to collect the life insurance payout to which they are entitled. This is typically not a task that is carried out by the executor of the estate.

In cases where the beneficiaries depend on the person who has passed for financial support, filing a claim is a priority to get the money as quickly as possible to cover expenses such as mortgage payments, utility bills, etc. Associated Insurance Agencies Inc. or Westerville, OH is here to help you every step of the way from purchasing the insurance policy to assisting beneficiaries in the collection of the payout.

Claiming Life Insurance Benefits

To claim the benefits from a life insurance policy, the beneficiary will need to contact the insurance company that sold the policy. Some insurance companies will require a form to be submitted by the beneficiary reporting the death of the insured. Once the form is received, a packet will be sent to the beneficiary with instructions on how to proceed. Typically, all that needs to be done is to complete the claim forms in the packet and return them to the insurance company along with a certified copy of the death certificate.

In the event that more than one beneficiary is named on the life insurance policy, each beneficiary will need to submit a claim form. Should the primary beneficiary die before the policyholder, the alternate beneficiary will be able to claim the proceeds of the policy. In this case, the alternate beneficiary will also need to submit a copy of the certified death certificate for both the primary beneficiary as well as the policyholder.

At Associated Insurance Agencies Inc. or Westerville, OH, we understand the difficulty of filing insurance claims in the wake of a loved one’s passing. We are dedicated to making the process as easy as possible during your time of grief. For more information, give us a call today.

Ohio Life Insurance – What You Need To Know About Life Insurance

How can you best set up your family for their lives should you pass away?  This is a question that gets asked more than you would think.  You can save money over time in a nest egg account and pass that account on to your family, that’s certainly one way to do it.  Another way is to set up a life insurance policy that will cover you in the case of your passing.  We will cover facets of life insurance and what to look out for below.  Associated Insurance Agencies Inc. in Westerville, OH offers life insurance and other insurance needs.

How Life Insurance Works

Life Insurance works similarly to other forms of insurance in terms of how they work.  In general terms, you pay a monthly premium to your insurance agent for the policy, and the policy pays out in a coverable event.  The coverable event, in this case, would be your passing which is quite different from a fender-bender for car insurance.  This is why life insurance is a subject that’s not talked about very much due to the macabre nature of what the end result would be.  It’s beneficial not to think of life insurance in those terms as this has more to do with what you leave behind versus the fact that you’re leaving in the first place.

Term Life & Whole Life

There are two types of life insurance that you can get, term life insurance and whole life insurance.  Term life insurance covers a term or length of time which can run up to 20 or 30 years.  Monthly premiums are lower for term life insurance, but the premiums paid don’t add value to the policy.  Whole life insurance covers your entire life and premiums are paid in perpetuity until your passing.  The bonus about whole life insurance is that your premiums build more value in the policy.

To Learn More

You can get more information about life insurance by contacting Associated Insurance Agencies Inc. in Westerville, OH today!

How Does Life Insurance Work?

There are many ways you can protect your loved ones, and one of them is through life insurance. At Associated Insurance Agencies Inc, serving the people of  Westerville, OH, we strive to help you understand why you should consider getting life insurance.

What is Life Insurance

Life insurance is basically a contract between you and an insurance company where you pay premiums in exchange for a lump sum called a death benefit paid to your beneficiaries upon your death. Below are the different types of life insurance policies and how they work.

Term Life Insurance

Apart from being the most popular life insurance policy, it is also the most affordable. Term life insurance provides coverage over a certain period, and the premium amount paid stays the same during the whole duration of the policy. Should you die within the period or term, your policy states your beneficiaries can claim the death benefit, which is tax-free.

Whole Life Insurance

Whole life insurance provides a fixed death benefit as long as one keeps paying sufficient premiums and meets all their policy requirements. It comes with a cash value feature that you can utilize while alive. One can also redeem their cover, which leads to most people using it in retirement. However, your loved ones can also receive the death benefits upon your passing, hence securing their future.

Universal Life Insurance

Universal life is a type of permanent life policy. It comes with a cash value feature allowing you to invest in your preferred market. When you pass away, your beneficiaries receive the death benefit, which they can use to cover various expenses like mortgage, tuition fees, or pay any pending debt.

You can contact us at Associated Insurance Agencies Inc, for assistance in choosing a policy that will adequately protect your loved ones. We strive to serve all our Westerville, OH clients well, ensuring they have peace of mind that their beneficiaries are well taken care of.

Reasons To Buy Life Insurance

Many people do not even consider buying life insurance because they think it is a waste. However, in fact, life insurance is one of the best ways to protect your beloved ones and provide them with the financial security that they may need in the event of your death. Associated Insurance Agencies Inc. serving Westerville, OH and other surrounding towns prepared a list of reasons why having life insurance is a good idea: 

You Are Supporting Someone Financially

The rule is simple: if there is someone who depends financially on your income, having life insurance is worth it. According to the statistics, over 6.2 million Americans support someone financially. If you are one of them, getting life insurance is the right thing to do. 

You Have Debts

If you pass away, your debts will not just disappear. If you have a mortgage on a house or car loan, your family members will be responsible for paying off the debt. Therefore, purchasing a life insurance policy that will help with repayment is a good idea. 

You Want to Cover Your Children’s Future Education

As a parent, you want to make sure that your children get a good education. There are several different ways to save money for your children’s college, and life insurance is one of them. With a life insurance policy, you know that your child will have a financial opportunity to pay for their college if you are not around anymore. 

Life Insurance Is Affordable

Many people may not know but life insurance is pretty affordable. Moreover, the healthier and younger you are, the cheaper a policy will be. 

We Are Here to Help You 

Having life insurance today is not a luxury anymore – it is an easy and smart way to purchase financial protection for the people you love and get peace of mind. If you are currently looking for an insurance company in Westerville, OH, or any other surrounding town, Associated Insurance Agencies Inc. is ready to help you. Our experienced and knowledgeable insurance agents will answer all your questions and help find a policy you need based on the insurance needs and budget. Feel free to contact us for more information.