Washington WA Life Insurance Question

Reader’s Question:

My name is Carla and I would like to know what is Life Insurance and what difference does it make. Are there types to choose from? Thank you.

Carla

Bellingham, WA

Hi, Carla! It’s a very rare experience to have encountered a person as young as you and is already interested with insurance! You have a nice thinking, girl and that’s positive.

The truth about Life insurance will be revealed to you right this very minute, dear. Life Insurance is actually a contract between the company ( insurer )and the person being insured ( policy owner ) where the latter agrees to pay a stipulated amount of money for a particular policy agreement and the insurer will then agrees to pay a sum of money upon the occurrence of death, terminal illness and other critical illness.

The stipulated amount paid by the policy owner is called the premium which is being agreed to pay either by regular intervals or lump sums. There are several types of insurance and each has its own coverage and features. Life policies are legal contracts and its terms describe the insured events that it covers.

However, not everyone with life insurance enjoy it. There are also specific exclusions that are indicated in the contract to limit the liability of the insurer to the policy holder. Such cases are suicide, war, riot, fraud and many other civil commotions.
Like what I have said earlier, there are many types of Life Insurance and all you have to do is to know more of each type so that you will be able to learn which one should be purchased and recommended to your loved ones. For more details, feel free to contact your agent in Washington.