Life Insurance in Boyertown PA & Gilbertsville PA

Protect What Matters Most.

 

In the wake of a death, families may face many hardships. In addition to the mental and emotional struggles of mourning a loved one, you or those you leave behind may also need to manage significant financial burdens. Amid the grieving process, life insurance can help provide crucial financial relief for you and your family.  

What Is Life Insurance? 

 

A sufficient life insurance policy can make a huge difference following the death of a loved one. Even if someone’s passing may have been expected, there may be significant financial costs to manage. Regardless of how healthy a person may be or how safe of a lifestyle they lead, dire health conditions and unexpected accidents may eventually occur. With that in mind, life insurance is a highly advisable investment to ensure your family is provided for.  

How Does Life Insurance Work? 

 

Although the details of life insurance policies can vary significantly, their primary purpose is providing financial assistance to beneficiaries if an insured passes away. In most cases, coverage can help pay for the following costs or losses: 

• Medical care
• Lost income
• Funerals
• Burial expenses
• Outstanding debts
• Estate taxes
• Administrative costs 

What Is Whole Life Insurance Versus Term Life Insurance? 

 

There are many types of life insurance policies; however, two standard options include:  

Whole life insurance—These policies, a type of permanent life insurance, offer coverage throughout an insured’s entire lifespan. Regardless of when a person’s death occurs, their beneficiaries will receive a payout to help them cope with their financial circumstances following the policy’s provisions and as long as it remains active. Many whole life insurance policies also offer various opportunities to accrue cash value over time, which may then be borrowed against, invested or put toward reducing premiums. 

Term life insurance—In contrast, this type of life insurance policy includes coverage for a predetermined period of time. If an insured dies after term life insurance has lapsed, beneficiaries will not receive a payout. These limits may help keep premiums lower. Term life insurance may be a suitable choice for those who require coverage only until a certain date, such as families paying off a mortgage or parents ensuring their children are provided for until they reach adulthood.  

Get the Right Coverage 

 

Life insurance may provide crucial security and assistance during difficult times. However, these policies can also be complicated and nuanced. With that in mind, you should enlist the services of a qualified insurance agent, such as those at Gerhart, Hartman & Ritner, Ltd. Our dedicated staff will work with you to assess your life insurance needs and present optimal options. Contact us today to get started.