Never stop protecting your loved ones.
Why Choose Weed Ross For Your Life Insurance?
If life is like a box of chocolates, then we want you to be prepared for all of it and then some. Our life insurance policies can meet temporary or lifelong needs. Whether you’re just starting out with life insurance or adding it to your coverage, the dedicated insurance experts at Weed Ross can help walk you through this decision.
Life insurance can be one of the most important purchases a family or business owner can make in their lifetime. For this reason, Weed Ross offers extremely competitive rates so this decision doesn’t have to be any more complex than it already is. Set your family up with the financial support they deserve.
Here at Weed Ross we understand the meaning of family; after all, we’re basically a family ourselves. We know how monumental the decision to invest in life insurance can be, and we go the extra mile to ensure that our clients are comfortable with their premium, understand their policy, and feel confident in the well-being of their loved ones.
#1 Life Insurance in Western New York
What is life insurance?
Life insurance is a type of insurance protection that exchanges monthly premiums while you’re alive for a lump-sum payment to your assigned beneficiaries should something happen to you. This lump-sum payment is known as a death benefit, and is paid out to your inheritors tax-free. This payment is designed to replace your previous income and support your family or loved ones in the event of your passing, allowing them to afford housing, bills, groceries, and other necessary expenses. Beneficiaries can be anyone, but most people choose their family or close friends.
What are the different types of life insurance?
There are two main types of life insurance: term life insurance and permanent life insurance. Term life insurance typically offers coverage for 10, 20, or 30 years, while permanent life insurance lasts for the rest of your life, as the name suggests.
• Term life insurance
Term life insurance covers you for a predetermined number of years. At the end of the selected term, you would cease paying premiums and the coverage would expire. Term life insurance is typically a simple and affordable option when it comes to life insurance. Put simply: if you pass away while the policy is active, then your beneficiaries receive the death benefit; if you outlive the term, then your family doesn’t receive compensation.
• Permanent life insurance
Permanent life insurance involves paying premiums for the duration of your life, but also provides guaranteed protection and ensures that your beneficiaries receive the death benefit. Depending on your policy, permanent life insurance provides options for early withdrawals and adjustments along the way. When definitely looking to leave an inheritance for loved ones upon passing, most people choose permanent life insurance.
When should I get life insurance?
One of the primary looming questions around the idea of life insurance: when should I get it, if at all? Many people invest in a policy when they take out a mortgage or when they have kids, but there are plenty more opportunities to explore the possibility of life insurance. Some folks like to coordinate their life insurance policy with the duration of their mortgage, to make sure their loved ones don’t end up paying for their house after they’re gone. Others like to align life insurance with their children’s college debt. Other aspects to consider include taking care of your partner, leaving an inheritance, covering funeral costs, and more. Talk with the experts at Weed Ross to discuss the best timing for you to open a life insurance policy.
What does life insurance cost?
Life insurance costs can vary depending on the policy, time of investment, and a few other factors. Pre-existing conditions, for example, can lead to a slightly more complicated life insurance policy and it’s important to disclose this type of information. Additionally, your age, job, and lifestyle have a significant impact on your life insurance premium. If you live a particularly risky day-to-day life as a skydiving instructor, your policy might be more expensive than your typical office employee. Your health, financial history, and other habits also come into play.