Life insurance from Zacharias Insurance Agency can help you secure your family’s financial future by providing the funds they need to: cover burial expenses, uninsured medical bills, pay off your mortgage and other outstanding debts, and maintain a comfortable standard of living. There are a variety of life insurance policies that we can provide. The kind of policy you choose depends on your needs:
Term Life Insurance is a low-cost way of providing maximum coverage for your family. Protection is provided for a limited number of years. The insurance expires without value if the insured lives beyond the policy period, usually 20 to 30 years.
Term insurance premiums will not increase during the guaranteed policy time period (term) you select. Term Life Insurance pays a death benefit only if you die during that term. Term insurance generally provides the largest insurance protection for your premium dollar. Term Life Insurance remains in force for as long as premiums are current, provided there are no misrepresentations on the application. The insurance coverage terminates if you discontinue your premium payments.
Universal Life is characterized by great flexibility. Policyholders can determine the amount and frequency of premium payments – i.e., the more you pay, the less time you will need to pay. Your premiums cover the insurance part also the savings or investment element and the expense part.
Whole Life Insurance provides permanent protection for the whole of life – from the date of policy issue to the date of the insured’s death, provided that premiums are paid. Premiums are set at the time of policy issue and remain level for the policy’s life. Unlike term insurance, whole life combines insurance protection and savings or cash value which builds over time. Cash value build-up may provide a source for living benefits, for example, helping pay off a mortgage, or a child’s education, or cash surrender value if the policy is ever cancelled. Whole life insurance plans also include different payment options including what is called a 20-pay. With this plan your whole life policy is paid off within 20 years and the coverage is until death. This is commonly used as a burial policy and/or a child life policy.
These products are continually changing and we can provide you with the latest information and policies available!