Arizona life insurance can be a lot of things, but obviously, it’s going to be a life insurance policy and Arizona. That being said, there are term life insurance. Policies there are Arizona whole life, AKA final expense life insurance policies. Accidental policies are considered to be life insurance by most people. some of the providers considered them to be health, but they’re really not. It’s not a health insurance policy. It is a policy that pays out upon death, which is essentially what life insurance is, but it’s going to be any kind of an Arizona policy through a life insurance company that’s going to pay a lump possibly pay monthly increments, a life insurance policy covers against death.
So it’s a way to protect your family if you have a, an Arizona life insurance policy, and. Your spouse, Pat, this is a way, or you pass away or you know, any, anyone that either names you in a beneficiary or you named them as a beneficiary. If you pass away, your beneficiary is typically going to get a lump s
And it can be anywhere from five or $10,000, up to millions of dollars depending upon what your needs are or more to the point what the needs are of your beneficiary. So that being said, there are quite a few options of life insurance policies. But the good news is you do not need to be the expert, but your life insurance agent does need to be the expert.
So it makes sure it’s someone that’s been doing it a while and, and someone that has access to a lot of companies and options out there that we get the best price possible. And they don’t have to put you into what’s called a graded life insurance policy. Instead, they can put you into, a standard or preferred or even higher health rating than that.
Which gets you a better price and gets you coverage, that starts right away. but that’s what you’re looking at Arizona life insurance policy. Now, if you go with a term life insurance policy, it’s going to expire at some point. And typically these are going to be 10 to 30 years, for the term length.
That policy oftentimes will give you the option to go a little bit longer, but at a higher cost. So just know that yes, it does have an expiration date based on price. It’s going to lock in a price, typically the same price. but not always there are policy gets more complicated. there are descending policies, there are ascending policies, and there are level policies.
Typically, my clients prefer level policies because the policy does not change for the whole duration. Now, if it’s a whole life or final expense policy or is based on the companies that I write for, if it’s an accident, excuse me, if it’s an accidental death benefit. Meaning, nonmedical, all of those, they’re going to be the same.
They’re not going to change. The terms that I tend to write for. My clients tend to be the same as well. but those whole life policies, they’re going to go until death or until maturity. If you get it when you’re very young, it’s possible. It’s going to mature before you pass away, in which case you don’t need to pay any more in that policy is, is done.
You don’t need to pay into it anymore. however, in most cases, people get a whole life insurance policy and it is going to, just go until they die. And then upon death for any reason, they send a check to your beneficiary. So in short, that’s in long end short. That’s how it works. So I hope this has been helpful.
Arizona life insurance, it’s a big topic. I can talk for days on the topic. but if you have specific questions, please click the link below. I’ll be happy to provide a free consultation. I can help you over the phone or in person, whatever you prefer, and anything I can do for you, I’m happy to help. Take care and stay safe out there.