Life Insurance Coverage - Washington D.C.
Life insurance should be a part of your overall financial plan, but how much life insurance do you need and what type of life policy is right for you such as term life insurance or whole life insurance? We can help.The primary purpose of life insurance is to provide funds to your dependents after you die to replace what you were earning. The life policy payment money is an important financial resource. It can help cover funeral costs, pay the mortgage, provide funds to run the household and ensure that your dependents aren’t burdened with debt. Lockhart’s Insurance Services insurance providers’ line of competitive life insurance products can provide financial security for you and your family. Our agency can help you with every step of the way.
Types of Life Insurance
There are three basic types of life insurance: temporary, permanent and life insurance with no medical requirement:
Temporary or Term Life Insurance
This type of life insurance covers needs such home mortgages, short-term debt reduction, family income and educational expense that can last from as little as one year to 30 years. Term insurance provides affordable coverage for a specific number of years. It is the most cost effective way to cover costs for loved ones left behind. There are a variety of plans ranging from an annual renewable term (1-year plan) to a level term plan that could last 10, 15, 20 or 30 years.
Permanent or whole life insurance
This type of life insurance covers needs that last for your entire life, or potentially for periods of 15 years or more. Unlike term, permanent life insurance builds a cash value that increases the longer the policy is in force. Permanent needs may include final expenses and funds to cover estate taxes and retirement savings protection. Whole life and universal life plans are ideally suited for meeting these goals. With a permanent life insurance policy with Lockhart’s Insurance Services’ insurance providers, you’ll have guaranteed protection your entire life.
No Medical Examine Life Insurance
We can also provide life insurance with no medical requirement. As an indedpent insurance agency we have access to a large selection insurance carriers and some don't require a medical examine to be covered.
The proper coverage can make all the difference when it comes to the loved ones you leave behind. We will help you every step of the way.
Contact us today to discuss the life insurance program that best fits your needs.