Life insurance in Oklahoma
Life insurance is something no one wants to think about, but nearly everyone needs it. At Vance Insurance Group in Oklahoma, we pride ourselves in helping people find the right policies for their needs. We offer 4 different types of Life Insurance and lots of different coverage options, making us a great choice for many situations.
Do I Need Life Insurance
You may find yourself wondering if you even need life insurance. One of the top reasons for life insurance is covering your final expenses. If you pass away, you don't want your family to have financial strain as they deal with their loss. Life Insurance allows you to know that if the worst happens you won't be a burden for your family. You should also consider any debt that you have. Leaving behind unpaid bills can also put family members in a tough spot.
If you are the primary breadwinner and have a spouse or dependents, you should consider a policy to replace your income in the event of a tragedy. If you have others relying on you, you'll want to make sure they are taken care of if you are no longer able to.
What Types of Insurance Are Available
We offer 2 basic types of life insurance in Oklahoma. Term life insurance is usually the least expensive and simplest type. You have coverage for a set term (usually between 10-30 years) and your premium and death benefit remains the same throughout. The policy has no value beyond the death benefit.
Whole life insurance lasts for your entire lifetime and has an investment aspect as well as a death benefit. Over time, you build up cash value as you pay premiums. The premiums and your rate of return are usually fixed. In some cases, you can borrow against the cash value. You may also surrender the policy for the cash value, but this ends your coverage.
If you need life insurance coverage contact us at Vance Insurance Group LLC in Oklahoma. We can help you select the right policy for your needs.