Life Insurance

Protecting Your Family and Future

You need a life insurance policy if you have people who rely on your income. Plain and simple. Still, the many options can complicate the buying process, and it helps to have a licensed expert on your side!

Overton Agency can help you choose the type of policy, coverage amount, and company that makes sense for you and your family.

What Is Life Insurance?

Life insurance is a contract between you and an insurance company. You agree to make a series of monthly payments (“premiums”) in exchange for your loved ones receiving a death benefit payout when you pass away. As long as you have paid your premiums on time, your policy will stay active.

Types of Life Insurance

There are two primary types of life insurance: term life and permanent life. Term life insurance covers you for a set period, while permanent life insurance options cover you for your entire life. Different circumstances call for different types of coverage, so it helps to know what each has to offer.

Term life insurance covers you for a period of time, usually for 10-20 years—perfect for young families. Once that period has ended, your insurance coverage will end as well. Since there is less risk involved with insuring someone for a portion of their life, term life plans tend to be relatively inexpensive. Though, the cost will increase or decrease based on the level of death benefits you choose in your plan.

Permanent life insurance plans, like whole life and universal life, are designed to last for your lifetime. They also have a cash savings component that allows your policy to build value over time. How this money grows depends on the type of plan you choose and all plans allow you to borrow from or withdraw the cash value in your policy. This can be helpful for people who are thinking long-term and wanting to build wealth.

What About Death Benefits?

People buy life insurance because they want their loved ones to have a good financial cushion after they die. So, many life insurance policies offer large death benefits, ranging between $50,000 and $1 million. How large of a death benefit you qualify for typically depends on your health status and budget, but expect the average plan to sit around $100,000.

How Do You Get Life Insurance?

You can get a life insurance policy from a big carrier or through an independent broker like us. We represent the biggest, most reputable companies around. Most importantly, we give you an unbiased review of your options and help you make an educated decision. It’s the personalized service you deserve and won’t receive when you call a 1-800 number. Depending on your situation, there may or may not be a medical exam and some paperwork—don’t worry, we will make it as quick and easy as possible!

Call Today for Your Quote

Don’t shop for life insurance alone. Instead, let our team help you navigate the marketplace to find the right coverage for your particular needs. To get your free quote from Overton Agency, call 501-881-2050.