Life Insurance Policies

Life insurance

Life insurance is a valuable asset that can help protect your loved ones’ financial futures if something unexpected happens to you. Finding the right life insurance policy can seem complicated, but the team at Insurance Lounge is here to help. Learn more about how coverage and pricing work to help you decide which option is best for your family.

Factors That Affect Life Insurance Rates

Your medical history tends to be the biggest factor adjusters look at to determine your policy rate, including your gender, age, and tobacco use. You shouldn’t wait to purchase life insurance until you’re older. If you sign up for life insurance while you’re young and healthy, you may secure a lower premium. Adjusters may also look at your lifestyle. High-risk hobbies or jobs sometimes lead to higher premiums, but it depends on the carrier. We provide free quotes and numerous bundling options to help you find the best deal.

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Different Types of Life Insurance Policies

Term Life Insurance

Term life insurance is the most basic form of life insurance. It provides affordable coverage for a fixed period. Term life insurance is designed to protect against a catastrophic accident or serve as supplemental coverage for a permanent life policy. The initial premiums for these policies are usually lower, which is ideal for people with a temporary need for life insurance.

Permanent Life Insurance

Permanent life insurance offers protection that will last your entire life, rather than a specific period. It also provides savings benefits that you can use during your lifetime. The savings portion will build a cash value that you can withdraw from or use to get a loan.

Whole Life Insurance

Whole life insurance is the simplest type of permanent life insurance. This option is ideal for those who like to stick to a budget and offers added savings for younger people.

Insurance Lounge works to make purchasing life insurance easy and educational. With four retail locations in Oregon, we’re committed to creating new and effective ways to make getting insurance more transparent. Let us work with you to find the best deal for your needs. Call us at 1-800-211-8660 or get a free quote online today.

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