Have you considered the future of your family when you depart from this world? What will they be when you not with them anymore physically? Just thinking to the financial aspect, can they shoulder the expensive cost of you passing away? It is a fact that dying is an expensive event in one’s life, particularly to the family and loved ones he/she will leave behind.Fortunately, you can prepare for these instances as early as possible (or even in the twilight of your life’s journey). Through life insurance, you are doing the right thing to protect your future and the future of your family and loved ones when you are gone in this world. For a small amount you will pay on a regular basis, you are doing your family the best favor. This life insurance is one of the many insurance product offered today and serves as a contract between the holder of the insurance policy and the provider or insurer.
The insurer pledges to pay the selected beneficiary the benefits in the form of money upon the passing away of the insured person. There are other instances that payments may be made and it is normally stated in the contract. Other expenditures are also occasionally incorporated in the said benefits. Hence, it is important that you shop around for the right life insurance policy.
Best Life Insurance Companies for 2017
If you are shopping for the right life insurance coverage for you, consider the following best life insurance companies for 2015.
- Northwestern Mutual – This company had been around since 1872. Their 155 years experience in the industry is a strong foundation ensuring that your family will get the benefits that you pay for in time of your demise. They also pay twice as much as most insurance providers usually pay.
- MetLife – It has been serving millions of clients in more than 60 countries for over 140 years now. They value integrity and responsibility making them one of the most trusted in the industry. Aside from life insurance, they also provide other types of insurance, as well as retirement and savings plan.
- Massachusetts Mutual Life Insurance – It has been serving clients since 1851 with their various whole life insurance policies. This is one of the largest insurance companies in the world. Over 13 million clients rely on this company for their insurance needs.
- New York Life Insurance – This company has been working to help people build a strong financial future since 1845. They offer life insurance and long term care insurance, as well as investment products.
- Prudential Financial, Inc. – It had been in the industry for 137 years. It is a trusted company not only in life insurance but on investment and retirement plans as well. It is the number 1 company in Fortune Magazine’s 2012 World’s Most Admired Companies for the Insurance: Life and Health category.
- Aflac – This company is committed to providing security to over 50 million clients all over the world. It is also included in Fortune 500 companies.
- Lincoln National – This company was established in 1905. It provides life insurance, as well as retirement and investment plans to millions of clients all over the world. It is also a Fortune 200 company.
- Principal Financial Group – It was established in 1879 and has been providing excellent life insurance, investment and retirement plans to satisfied clients. Some of its awards received are Best Places to Work for from IDGs Computer World magazine and one of the Greenest Companies in the U.S. from Commercial Property Executive magazine.
- Genworth – It has been providing financial security to people since 1871. It is also a Fortune 500 company. They have wide range of insurance plans that would suit all needs.
- Reinsurance Group of America – Founded in 1973, this global insurance company offers life, as well as health insurance policies. It operates in 25 countries all over the world, committed to serving millions of policy holders.
Types of Life Insurance
These insurance companies generally offer two types of life insurance. They are permanent and term life insurance.
- Permanent or also called whole life insurance gives lifetime coverage, as long as premiums are paid. It also has a cash value that grows as the amount is being invested. It has a fix premium rate that stays the same for a lifetime. The drawback of this one is that the rate is higher.
- Term life is cheaper but it provides limited protection. You are only covered for the duration of the policy, which can be from 1 year to 30 years. It also does not have a cash value. If death happens after its expiration, no benefits will be given to the family.
Secure your family’s financial stability. Get your free insurance quote now.
Seek the professional help of your financial advisor whom you trust. Start your search by signing up today. Ask and get your free quotation about the life insurance you need and start also to prepare and protect your family in their future without you.