Life Policy Options:

What Is Life Insurance?


Life insurance is a binding contract that pays a death benefit to the policy’s named beneficiaries when the insured person dies. Beneficiaries can use a death benefit to pay for things like funeral costs and everyday living expenses.


Does Life Insurance Expire?


There are many kinds of life insurance policies, but they generally fall into one of the following two categories:

How Many Life Insurance Policies Can I Have? You can have multiple insurance policies, but insurers may limit the total amount of coverage you can buy. For many people, one policy is enough. The following are a few situations where it may make sense to have more than one life insurance policy: You own a small business. You need to cover final expenses. You want to leave an inheritance.

How Much Life Insurance Do I Need at 60?

Everyone’s insurance needs vary. As you age, you may think that life insurance is less important, but that isn’t always the case. Some might find that they need life insurance more than ever.

The following are examples of factors to consider when analyzing your life insurance needs after the age of 60:

If you’re still working

Your net worth If you have outstanding debt

If others depend on you financially

If you currently have life insurance and the amount of coverage you have

Speak with an agent for more information on available coverages and costs.