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Life Insurance in Saint Mary’s, PA

According to Life Insurance Marketing and Research Association, only about 52% of Americans have life insurance. This is troubling because life insurance can protect family members from potentially devastating financial losses after a person’s death. Even young, healthy individuals are encouraged to seek a life insurance policy because it can serve as a safety net for their beneficiaries.

What Is Life Insurance?

A life insurance policy is a contract between a policyholder and an insurance company. In exchange for payments called premiums, an insurer agrees to provide a sum of money to one or more designated beneficiaries when the insured individual passes away. This money is called a death benefit and can help pay for expenses after the insured dies.

How Much Is Life Insurance?

The cost of life insurance varies greatly depending on several factors about the insured, including the following:

  • Age
  • Health conditions
  • Gender
  • Occupation
  • Lifestyle
  • Driving record
  • Tobacco use
  • Family health history
  • Criminal history

The cost also depends on whether the policyholder chooses term life insurance, whole life insurance, universal life insurance, variable life insurance or a different option. An insurance professional can recommend the best policy for each individual’s needs.

How Does Life Insurance Work?

Life insurance is an important protection to have in place to help support your loved ones when you pass. A death benefit can help pay for expenses such as the following:

  • Income replacement for dependents
  • Funeral and burial costs
  • Debts
  • Medical expenses
  • Federal and state death taxes
  • Charitable contributions
  • Daily expenses

Life Insurance Quote in Saint Mary’s, PA

If you’re interested in learning more about the benefits of having a life insurance policy, or you’re ready to invest in one, contact Pacelli Insurance Agency. We will be able to make sure you have the coverage you need.

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