Life Insurance Tualatin, Oregon
Are you beginning your quest for life insurance in Tualatin, Oregon? Have you been wondering about all the options that are available to you? Think you might really need some advice and direction? Schmidt Insurance Group is the place you need to be! Let the experts at Schmidt Insurance Group in Lake Oswego provide the information you need that will help you choose the best coverage.
Schmidt Insurance Group opened its doors in 2019 with a goal of making insurance easy while providing exceptional customer service. We proudly serve Lake Oswego, the local Portland area, and the entire 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.
Key Takeaways for Understanding Life Insurance
Life insurance is a contract between you and the insurer. It guarantees that you will pay the insurer a monthly premium in exchange for a certain dollar amount of coverage to be paid out to the beneficiaries you choose in the event of your death during the term of your policy. But here are the really important things to keep in mind, the key takeaways for understanding life insurance:
- It’s a legally binding contract.
- Enforcement of the contract is based on accurately disclosed info about the policyholder’s health (past and current) as well as any high-risk activities the insured might be involved in.
- Regular premium payments must be made for the policy to remain in force.
- Upon death the named beneficiaries will receive the “death benefit” or the policy’s face value.
- Term life policies expire over a certain period of time, permanent life ones last until death or the premium stops being paid.
- Life insurance is only as dependable as the company issuing it.
Who Needs Life Insurance?
Anyone who has someone to take care of should consider purchasing life insurance. It provides financial support to surviving dependents. So, here are some types of people who should definitely consider purchasing life insurance:
- Parents with children under 18 years of age. Financial hardships would definitely ensue should a parent of minor children die. Having life insurance will at least ensure there are some financial resources to continue caring for the children.
- Parents with special needs adult children. Special needs children require lifelong care and being certain that these children are provided for should be at the forefront of any parent’s thoughts. Many times, the death benefits can be used to fund a special needs trust that will assist with managing the money for these special needs adult children.
- Adults who own property with others. It doesn’t matter if you are married. If you own property with someone else, it’s a good idea to ensure that you both have life insurance so that the investment in the property will not be lost should one owner pass away.
- Elderly parents wishing to leave money to those who took care of them later in life. When a parent requires care in the later years of life that can take a significant financial toll on the child providing that care. Leaving that caregiver money could help alleviate the stress created.
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. If buying life insurance is on your wish list in Tualatin, Oregon, let us help you choose the best coverage. Stop in today and introduce yourself or give us a call at (503) 506-4554 to learn more.
