Life Insurance: Investment for a Worry-Free Life

​The occurrence of the Covid-19 pandemic is an eye-opener of how short life is. Tomorrow has no assurance. Hence, everyone should prepare for accidents, natural disasters, and crises that may happen. Obtaining life insurance gives a guarantee of a worry-free life. 

1. Why Is Life Insurance Important?
   Life insurance guarantees that the insurance company will pay for the death of the insured person and provide a death benefit to the beneficiaries. This death benefit can be an inheritance to the family.  It replaces the insured person’s income, which can be used for paying a mortgage, tuition fees for the children, or outstanding loans.  Moreover, charitable institutions can also benefit if chosen as beneficiaries. 
   
   
2. Who Should Obtain Life Insurance?
   Anyone who has outstanding financial obligations should get life insurance. It could ensure that debt is covered even at the occurrence of death. Even young people need life insurance to support them in student loans. Indeed, life insurance is everyone’s necessity. 
   
   
3. Finding the Right Life Insurance
   People who want to obtain life insurance should consider the amount of coverage they will need. They should weigh costs and benefits, and decide on what fits them.
   
   

• Term Life Insurance
  This insurance pays a predetermined amount given that the insured person dies on the specified time coverage. The term can be one or more years, and it expires unless renewed. It costs lower than permanent life insurance, but only covers temporary protection unless converted to stable. 
• Whole / Permanent Life Insurance|
  This insurance covers lifetime protection. It has no expiration, but premiums must always be paid on time. Permanent insurance is usually offered with savings or investment components, causing premiums to be higher than term insurance. 

Conclusion
At the onset of the Covid-19 Pandemic, everyone’s health and safety were at stake; the virus can put an end to one’s life. Even if this crisis ends, tomorrow is still never promised. Therefore, getting the right life insurance is essential. With life insurance,  all can live a worry-free life without the fear of death or being a burden to their loved ones.

At UG Brokerage Insurance Inc., we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (718) 848-7777. Get your free quote today by CLICKING HERE.