Best Life Insurance Rates Lake Oswego
At Schmidt Insurance Group, we can help you navigate the best life insurance rates in Lake Oswego, OR, and provide you with customized quotes to protect your family, your property, and your business.
Studies show that 30% of Americans have no life insurance. If you were to pass away unexpectedly, how would your loved ones pay for monthly expenses without your income? Schmidt Insurance Group provides excellent products and service and can help you find the coverage you need.
Five Reasons Life Insurance is a Good Plan
We understand that no one wants to think about death, especially one’s own. Sadly, people usually equate life insurance with death, so that makes them leery of thinking through the five reasons life insurance is a good plan. But since you are here, you are obviously considering the concept, so here are those reasons:
- It’s a fiscally responsible thing to do. Having no coverage can have serious financial repercussions on your family should something happen to you. Planning for their care is advisable!
- It won’t cost as much as you think it will. Lots of people think life insurance is too expensive, and/or complicated, to take the time to delve into. But it is probably a lot cheaper than you anticipate. Depending on your age and health status, you could be looking at a lot of coverage for less than $20 a month.
- Over time it could build cash value. Purchasing permanent life insurance can provide you with additional cash value that can be used however you wish. It is sort of like having a personal loan option without the hassle of credit checks, though you will definitely have to repay it.
- It can be more than just life insurance. When you add riders to your policies you can enhance your coverage options. You may want to consider adding a rider that offers you with long-term care benefits as that may be something you will need further down the line.
- Your retirement could be maximized with it. Life insurance, when structured correctly, can provide you with supplemental retirement income, or maximize pensions by supplementing a surviving spouse’s income. And there are even options to allow for establishing a trust to provide for your heirs.
Types of Life Insurance
There are two main types of life insurance policies to consider:
Term life insurance: This is the simplest type of life insurance to understand, and usually the least expensive because it has an expiration date. Term life insurance provides protection for a set period of time, or a “term.”
Whole or permanent life insurance: Whole, or “permanent,” life insurance lasts for a lifetime (as long as you pay the required premiums). From each payment you make, a portion is set aside in an investment account and becomes your policy’s “cash value.” Upon your death, a guaranteed benefit is paid to your designated beneficiary.
Protect what’s important to you by getting the best life insurance rates in Lake Oswego from Schmidt Insurance Group. Our agents know their Schmidt when it comes to life insurance and can help you get the coverage you need. Stop in today and introduce yourself or give us a call at (503) 506-4554 to learn more.
