Life Insurance Confusing – Lancaster Palmdale Tehachapi

California Cullen Insurance Agency logo

Life insurance can be very confusing, especially with all of the different types of coverages available. How do you know what kind of insurance policy is right for you?

Here are some Life Insurance options that will hopefully help with some of the confusion.

The most popular type of Life Insurance is term life insurance, which is probably because it is the lowest costing type of Life Insurance coverage out there. Term Life Insurance provides coverage at a fixed rate of payments for a limited period of time. If the insured passes away during the term, the death benefit will be paid to the beneficiary.

Then there is Universal Life Insurance, which along with providing a death benefit, universal life insurance also incorporates a savings vehicle. Basically, it is like combining a Term Life Insurance policy with a tax-deferred interest accumulating savings account.

There is also Permanent or Whole Life Insurance which is designed to last your lifetime as long as you pay your premiums. Upon your death, your beneficiaries receive a lump-sum payment known as the death benefit. It can be used to help cover expenses or to ensure loved ones are able to help continue the lifestyle and reach the goals you had always hoped for them.

self employed

Business Insurance and Self-Employment

Do Self-Employed Workers Need Business Insurance? If you’re self-employed you may not consider yourself a business owner but ...
read more
business owner

When Do I Need Business Insurance?

Starting a business comes with plenty of risks. Some you may anticipate but others you may not expect ...
read more

The Impact of the Coronavirus on Insurance

As the coronavirus (Covid-19) spreads across the U.S., it’s upending our lives and businesses throughout the country. Schools ...
read more