What is not covered by life insurance?
Often, life insurance companies discuss the many life insurance coverages and how much you have to pay for such policy. Yet, not everyone is aware of what life insurance does not cover.
In many cases of claims, they often think that illness or disability is covered. If you are diagnosed with an illness or went disabled and cannot further provide for your family, you cannot claim your insurance.
Though, there are separate premiums you can pay for if you wish to be more secure and protected on if the time comes, as such it can cover:
- Permanent disability
- Long-term illness; and/or
- Critical illness
Do I really need life insurance?
To walk you through getting life insurance, if you have the following then you might want to sign up for it as soon as possible:
- Dependents – spouse and school-age children
- Long-term mortgage for the whole family
If you have the abovementioned people in your life, then the answer is YES, you need life insurance. By the time of your death, they will be the ones who will benefit from what you left.
If you do not want them to have the burden of funeral expenses, you can also consider signing up for a new policy about funeral coverage.
The government can always send financial support to your family, yet you should not always rely on it. If you want you spouse and children to still have financial freedom after you are gone, life insurance is the undoubted answer.
Life insurance is payable five, 10, 20 years or a lifetime depending on what you prefer. The payout depends on the following:
- Your preferred duration of the policy
- The amount of money you are willing to shell out
Life insurance can surely give your family a safety net in the future. If you have the criteria for it, it is time to sign your policy today. At Roper Insurance, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. To learn more about how we can help you, please contact our agency at (828) 697-6709 or Click Here to request a free quote.