Learning About Life Insurance

For many people, life insurance can be a sensitive subject. It is something we have to talk about though. Possessing a life insurance policy is one of the best ways to protect your family in the event of an accident or terrible tragedy. The ins and outs of a life insurance policy are rarely straightforward and easy to understand, which is why AZ Insurance Center is here to help.

The Basics of Life Insurance

Unfortunately, and contrary to the title of the policy, life insurance is all about death. Three parties are involved in a life insurance policy: the policy holder, the insurer, and a beneficiary. The exact detail of the policy and the values attached to it will vary, but the function of it can be boiled down to a relatively simple idea. The policy holder pay the insurer a premium. The amount of this premium will be different in every policy. In the event of the policy holder’s death, the insurer will payout a sum of money, known as the benefit, to the beneficiary. The premium as paid by the policy holder can either be made in one larger lump sum, or it can be made in smaller payments, regularly, over a period of time.

Term life insurance differs from standard life insurance in that it is not in effect in perpetuity. Rather, the benefit will just be paid out should the policy holder pass away during a specified period of time. There are forms of annually renewable term policies available.

How AZ Insurance Center can help

AZ Insurance Center maintains close relationships with a number of top-rated insurance companies. We do our best to help you make careful, sound, informed decisions. Our goal is to give you peace-of-mind and assurance that you are protected no matter what situation arises.

December 5th, 2015 by AZ Insurance Center