Individual Life Insurance

Solutions to ensure your loved ones have what they need.

Individual life insurance throughout Arizona.

You can’t put a dollar amount on your family, but you can ensure their future is protected. We can’t predict when the unexpected will happen, but we can help you prepare for it when it does.

Individual life insurance is arguably the biggest investment you can make in your loved ones’ security. It’s a complicated field, but don’t let that put you off. We’ll be happy to talk you through the options.

Types of Life Insurance

First, you’ll need to determine the type of life insurance you want to buy, with the most common types being term life insurance, whole life insurance and universal life insurance.

Term Life Insurance

To put it very simply, with term life insurance you pay regular premiums for a set period and the policy only pays out if you die during this period.

Whole Life Insurance

With whole life insurance, there’s no set period. You usually pay regular premiums until you die, at which point the policy pays out. Sometimes you have the option to take a lump sum back while you are still alive, but this will reduce the amount paid out when you die.

Universal Life Insurance

Universal life insurance works in a similar way to whole life insurance, but you have more flexibility about taking money early. You can even borrow money and repay it later; although, if there’s any loan outstanding when you die, the policy’s payout can be significantly affected.

What Factors Affect the Cost of Life Insurance?

The premiums you pay depend heavily on your age and medical history, along with the amount you want the policy to pay out. So, it’s important to seek expert advice before committing to life insurance.

What is the Difference Between Individual & Group Life Insurance?

Group life insurance is when a group of people has an insurance contract with the insurance company. In some cases, an employer will provide a group life insurance policy to the company’s employees or an organization will provide it to its members. Either the employer or organization will cover the cost of the premium or the benefit will be given as an option to the employees and members for purchase. 

Individual life insurance is when an individual purchases the life insurance policy independent from any employer or organization. The policy is between the individual person and the insurance company. 

While there are pros and cons to both forms of life insurance, individual life insurance policies will typically have higher-quality service and coverage. This is because the individual with the policy will have more control over the policy’s coverage since there is not any dependence on another group. Additionally, individual life insurance can follow individuals throughout their life instead of being dependent on their employer to provide coverage. 

At What Age Should You Get Life Insurance?

Typically, the younger and healthier you are when you get a life insurance policy the more affordable it will be. This makes sense because it means less risk for the insurance company. That being said, it is still possible to find quality and affordable individual life insurance for various age groups. A variety of factors are involved such as how many children or financial dependants you have, so it is important to reach out to an insurance agency that can walk you through the options and help you make the best decision for you and your family. 

Speak With a Qualified Insurance Expert 

Don’t let the process of getting life insurance worry you. Our agency has the knowledge and expertise to help you make the decision stress-free. Contact us and we’ll walk you through the options and help you to determine if term life insurance, whole life insurance or universal life insurance are right for you.

Request an Individual Life Insurance Quote

As an independent agency, we offer multiple options at competitive prices.

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