Life Insurance Oregon City
No one can predict the future, but having life insurance will give you and your loved ones peace of mind. The Schmidt Insurance Group team can help you navigate all available options.
Schmidt Insurance Group opened its doors in 2019 with a goal of making insurance easy while providing exceptional customer service. We proudly serve the states of Oregon and Washington. We are specially trained in high-net-worth households and can help you find the exact amount of coverage you need.
Whenever you need to make a policy change, have a question about insurance or billing, or need to report a claim, you can count on us to handle your request professionally and quickly.
We will also carefully review your policies as your needs change, helping to safeguard against costly coverage duplication, and potentially disastrous gaps in your insurance coverage.
What is Life Insurance?
Life insurance is an agreement between you and a life insurance company that, in exchange for paying them monthly or quarterly premiums, agrees to pay your beneficiary a set amount of money in the event of your death.
It’s like a security blanket that can help financially protect the people you love most. Life insurance can pay for funeral expenses and medical bills, cover monthly expenses like rent and mortgage payments, pay off debts like credit card bills, fund a child’s future education, and cover other expenses that might come up after you pass away.
Types of Life Insurance
When you shop for life insurance, you’ll find that there are several different types. They can be broken down into two main categories: term life and whole (or permanent) life. It’s important to evaluate all of your options before you decide on a policy.
Term life insurance provides protection for a set period of time, or a “term.” Many term life policies provide coverage for a 10, 20, or 30-year period. Term life insurance has no cash value. Benefits are paid to your beneficiaries only if you die within the term. Once the term ends, so does your coverage.
Whole life insurance, or also called “permanent” life insurance, lasts for a lifetime. Upon your death, a guaranteed benefit is paid to your designated beneficiary. Whole life insurance is typically more expensive than term life insurance because it has a cash value that enables you to take money out or cash in the policy.
How Much Life Insurance Do You Need?
Each person and situation are different, and buying the right amount and type of life insurance is an important financial decision. Instead of guessing, an experienced Schmidt Insurance Group agent can help you determine how much coverage you really need after reviewing your life circumstances, financial situation, and future goals.
If buying life insurance is on your wish list in Oregon City, OR, let Schmidt Insurance Group help you choose the best coverage. Give us a call at (503) 206-0881 to learn more.
