Share:

Life insurance is a terrific tool to protect your loved ones from unexpected costs or loss of income if you are no longer there to provide for them. Depending on your needs and the size of the policy you choose, it offers different benefits and levels of protection. Zimmerman Insurance Agency, the most experienced insurance broker in High Point, NC, explains what might be included in your life insurance policy and why you should consider purchasing one.

What a Life Insurance Policy Covers

1. Loss of Income

Life insuranceMost people purchase a life insurance policy to protect their family and spouse against the possibility of losing their income should they pass away suddenly. The death benefit, depending on its size, could get the family through a year or two of expenses until other arrangements can be made. It could also pay off the balance of the family's mortgage loan and provide the spouse enough income to live comfortably in perpetuity.

2. College Education Expenses

Another common purpose of life insurance is to pay for children's college tuition, room, and board. If you are not there to contribute a portion of your income to a college fund, can your kids afford to attend? If the answer is “no” or even "maybe," it’s worthwhile to look into buying coverage to protect their future.

3. Funeral Expenses

Even if you don’t have a spouse or dependents, a life insurance policy is an important part of your financial plan. A small policy can pay for your funeral and burial expenses so your family is not saddled with them. You don't want to burden your loved ones with costs and responsibilities they might not be able to afford.

To learn more about your coverage options for a life insurance policy, contact Zimmerman Insurance Agency today. As a trusted insurance broker in High Point, NC, for over 50 years, they’ll help you choose a customized plan that suits your lifestyle and budget. Visit their website to request a quote, or call (336) 883-6512 to discuss your options with a friendly, helpful agent.

tracking