Life Insurance

Anyone who has people financially dependent on them should understand the importance and necessity of life insurance. Life insurance aims to provide policyholders and their beneficiaries with peace of mind and financial security. Are you thinking of getting life insurance, but you need more information to decide? Here is what you need to know:

What Should You Know About Life Insurance?

Here are some important facts about life insurance that should be taken into consideration:

• You can purchase one of the two types of life insurance. The first type is term life insurance, which is valid only for a limited period (usually no longer than 20 years). Certain term life insurance policies can also be turned into permanent policies in the future. The second life insurance type is whole life insurance, providing permanent coverage.
• There are factors affecting the cost of life insurance. Life insurance policies can have different prices depending on the type of insurance, the policyholder's age, medical history, education, family history, and others.
• You can use the DIME method to calculate the amount of life insurance you need. Each letter has its own meaning. For example, D-debt (mortgage, credit card debt, student loan, car loans), I-income replacement (considers people that are financially dependent on a policyholder), M-mortality (costs of wishes and burial procedures), and E-education (the costs of paying for education for beneficiaries of a policyholder)

The Schultz Agency - Insurance Company In Washington You Can Trust

Suppose you are currently shopping for life insurance in Washington and want to make sure that you make the right decision. You should contact a reliable and experienced agency, such as the Schultz Agency. We specialize in various types of insurance, and we know how to find an insurance plan that addresses individual insurance needs. If you have any questions, make sure to visit our office or give us a call.