Types of Life Insurance
Life insurance affords you a means of taking care of the ones you love when you are no longer around or able to. SBC Insurance can help you with life insurance in Los Altos, Menlo Park, Mountain View, Palo Alto, Stanford CA or Sunnyvale. They also help businesses group insurance benefits such as medical and group life.
Life insurance basically pay out a benefit to named beneficiaries should the insured die or become disabled. The insured needs to make sure the policy premiums are paid. The insured should also not die under suspicious circumstances- i.e. there must be no foul play. There are different types of life insurance options. These include term-life, permanent life, universal life, endowments, fixed annuities and more.
Term life insurance covers an insured for an agreed amount of time, normally 20 years. This is the cheapest form of life insurance and is popular with young couples starting out. Another important type of life insurance coverage is permanent life. This type of insurance covers an insured for his or entire life, provided the insurance premiums are current.
Permanent life insurance comes in two flavors – whole life and universal life. Whole life insurance addresses the long-term goals of the insured by offering consistent premiums and endowment or cash value accumulation. Universal life offers customers flexibility with premium payments, death benefits and endowment options.
Another type of life insurance policy is key man insurance. If somebody is essential to the survival of a business a key man policy can provide the business with a life line should that key man die or become disabled.
Closely aligned to life insurance is health insurance and disability cover. SBC Insurance can help you with life insurance, health insurance and disability cover in Los Altos, Menlo Park, Mountain View, Palo Alto, Stanford CA or Sunnyvale.