Regular Life Insurance
What Is Life Insurance?
Life Insurance is a contract between you and an insurance company, where you pay regular premiums in exchange for a lump-sum payment to your beneficiaries upon your death. This financial safety net can help cover living expenses, debts, and future financial goals.
Key Benefits:
- Coverage Amounts: Typically range from $1,000 to $50,000, depending on your needs.
- No Medical Exams: Simplified issue policies often require only a health questionnaire.
- No Waiting Period: Many plans offer immediate coverage upon approval.
- Fixed Premiums: Your premium remains the same throughout the life of the policy.
- Cash Value Accumulation: Builds cash value over time, which you can borrow against if needed.
- Fast Payouts: Beneficiaries receive funds quickly, usually within 24-48 hours.
Types of Life Insurance:
- Term Life Insurance: Provides coverage for a specific period (e.g., 10, 20, or 30 years). It’s generally more affordable but doesn’t build cash value.
- Whole Life Insurance: Offers lifelong coverage with fixed premiums and a cash value component that grows over time.
- Universal Life Insurance: Provides flexible premiums and death benefits, with a cash value that earns interest.
Why Choose Life Insurance?
Life Insurance is essential for individuals who:
- Have dependents relying on their income.
- Want to ensure their family’s financial security in their absence.
- Aim to cover outstanding debts or future expenses like education or mortgage payments.
Sample Premiums by Age and Coverage
Age Range | Coverage Amount | Term Length | Estimated Monthly Premium |
30–40 | $250,000 | 20 years | $20–$30 |
40–50 | $500,000 | 20 years | $40–$60 |
50–60 | $500,000 | 20 years | $70–$100 |
Note: Premiums depend on various factors, including age, health, and lifestyle.
Tools & Resources
- Instant Quote Calculator: Get personalized quotes based on your age, health, and coverage preferences.
- Funeral Cost Calculator: Estimate the potential costs of funeral services in your area.
- Life Insurance Needs Estimator: Determine the appropriate coverage amount based on your financial obligations and goals.
Get Started Today
At Z Bailey Insurance Agency, we prioritize your peace of mind. Our licensed, salary-based agents are here to guide you through the insurance process without any high-pressure sales tactics. Contact us today to discuss your options and find the best policy tailored to your needs.