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L & S Agency Inc.

3868 S Park Ave
Blasdell, NY 14219

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New York Life insurance coverage

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Life Insurance

Life insurance is not a popular topic, and that’s why many people overestimate the policy and end up buying more or little life insurance. If you are the breadwinner of a family, you want to ensure that they are well taken care of in case you pass away. If you are seriously thinking about purchasing life insurance, L & S Agency Inc. recommends speaking to an insurance advisor to help you understand your needs and choose the right type of policy for your needs. Before that, here is what you need to know about life insurance.

What is life insurance?

Life insurance is an agreement between you and your insurance company that promises to pay a death benefit to your primary beneficiary if you passed away. In return, you are required to pay premiums annually or semi-annually based on what you agree with your insurer. Your beneficiary can use the money as they please, like paying a mortgage, college fees, or their everyday bills. You can choose anyone or any institution to be your beneficiary depending on what you want to be done with the money.

Types of life insurance

There are two common types of life insurance. They include:

Term life insurance

This type of life insurance is flexible because you can choose the number of years you want the policy to last. Generally, term life insurance can last anywhere between 5 and 30 years. If death occurred during the term of the policy, the primary beneficiary is eligible for a death benefit.

Permanent life insurance

This type of policy provides lifelong coverage. That’s why it is more expensive compared to term life insurance. It also builds cash value. Permanent life insurance has several varieties, like Burial insurance and Universal life insurance.

Are you looking to buy life insurance? L & S Agency Inc. has the training, skills, tools, and experience to help you find a policy that matches your needs. Call us today.


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