Best Life Insurance Quotes For Spokane Washington
Washington State Family Owned Agency Since 2000
Planning for the future of you and your loved ones is an imperative issue nowadays, and one of the best ways to go about this is by obtaining life insurance. Life insurance is useful because it can help you fulfill the promises you make your family when you are gone. Do not leave the future of your family to chance and look into life insurance before it is too late. Pacific Insurance Group can assist you in finding the ideal Kirkland life insurance coverage ensuring your insurance policy will continue to meet your specific needs.
HOW CAN THE POLICY CHANGE?
As we all know, life changes – it throws curve balls and new experiences at us on a daily basis, and dealing with these issues requires planning. For each of our neighbors in Washington, the ideal life insurance policy will be unique and customized dependent upon their financial and personal needs. As your life evolves, so will your life insurance adapt to cover your current life needs. In some cases, the ‘life transformation’ may require a policy update and this can include the following:
- A recent marriage or divorce
- A new child or grandchild in the family
- The opening or expanding of a business
- The deterioration of your or your spouse’s health
- The provision of care or financial assistance to your parent
- The assistance or long-term care of your child or grandchild
- The recent purchase of a new home
- Planning an education for your child or grandchild
- Making plans for a retirement income
- The refinancing of your home mortgage in the past six months
- The receiving of an inheritance by you or your spouse
- The ownership of a sizeable estate
WHAT DO I NEED TO KNOW ABOUT A LIFE INSURANCE POLICY?
Life insurance can be a complicated field to navigate, but Pacific Insurance Group is here to assist you in selecting the most beneficial coverage for your needs. There are various types of life insurance policies available for clients; the most common of these policies are the following:
1. TERM LIFE INSURANCE
Term life insurance refers to a policy that provides protection for a noted period of time. If you do not have life insurance at the present moment, a term life policy may be a good place to begin. It is most often less costly than a whole or permanent life insurance policy and is available in varying periods with fixed premiums ranging from one to twenty years. The one year policy is referred to as an annual renewable term and the more advanced years, a level term.
In addition, it is possible, in many cases, to transfer the term life insurance policy to a permanent coverage option; thereby, providing you with flexibility according to your needs at the moment in time.
2. WHOLE LIFE INSURANCE
Whole life insurance is a type of permanent life insurance that will remain operative for one’s entire lifespan, provided the premiums are paid as indicated in the policy. This type of life insurance can be highly beneficial as a long-term investment as many whole life policies help in building monetary value as time passes.
3. UNIVERSAL LIFE INSURANCE
Universal life insurance is another type of permanent life insurance and it is characterized by the unbundled pricing structure, face amounts, and flexible premiums. This policy is able, as with the whole life insurance, to increase in monetary value which will earn an interest rate that can be adjusted periodically; however, it is usually guaranteed to stay above a specific percentage.
So, what is the best insurance policy for your needs? The most suitable means of answering this question is by speaking with the professionals at Pacific Insurance Group.
WHAT ARE THE DIFFERENT ADVANTAGES OF LIFE INSURANCE?
As has been mentioned, obtaining the correct life insurance policy is vital to planning for both present and future; however, not all of the life insurance options will provide assurance for your loved ones after your death. Of course, the majority of life insurance policies do offer benefits and investment opportunities for their holders and it is recommended that you use these while you are alive.
1. Life Insurance Death Benefit
Upon passing, a life insurance policy will provide tax-free income to any and all named beneficiaries as a means of assistance with funeral expenses, estate taxes, tuition, debt, or any other financial needs. The policy can assist in providing security for businesses as well by enabling the partners to buy out the deceased partner’s interests and prevent any forced liquidation.
2. Life Insurance Living Benefits
The monetary value growth of a whole life insurance policy is a tax-deferred option. This means that you will not need to pay any tax on the monetary value growth, unless the cash is withdrawn. Withdrawals or loans may be taken against the monetary value of the insurance policy to assist with different expenses, such as a down payment on a property or tuition.
Final Words On The Matter
Each life insurance option is highly unique according to the needs of all customers in Washington. By speaking with the team at Pacific Insurance Group, it is possible to find that ideal policy that will protect your loved ones and ensure a better future.