Life Insurance in Orem UT & Spanish Fork UT

Protect What Matters Most.

Life insurance is like a financial security blanket. Life is unpredictable, and by having life insurance coverage, you can ensure your loved ones have some financial protection after your death.   

Having a life insurance policy is the foundation of many people’s financial plans. Life insurance coverage can help pay for funeral expenses, estate taxes, replace lost income or even help finance a child’s education. Your named beneficiaries can use the life insurance money for whatever makes the most financial sense to them. 

What Types of Life Insurance Are Available? 

There are two main kinds of life insurance. The life insurance policy you choose depends on your situation and what makes the most financial sense.  

• Term life insurance: A term life insurance policy provides money to your beneficiary if you die during the policy’s term. This term may be a period of 10, 20, 30 or more years, depending on the expiration date of your policy. If you don’t die during this time, the policy doesn’t pay. You would have to reapply for a new life insurance policy to continue coverage.

• Whole life insurance: A whole life insurance policy lasts for the remainder of your life once you’ve enrolled. The policy won’t expire unless you stop paying it. This plan also offers a cash value investment opportunity, and the cash value component can provide a source of income while you are still alive (in addition to the eventual death benefit).

In addition to term and life insurance, other types of life insurance may make sense for your particular situation. We can explore the various types of life insurance coverage and help you decide what is best suited to your needs. Other types of coverage that may be worth considering include: 

What Amount of Coverage Is Appropriate?  

The amount of life insurance you purchase is entirely up to you. Many people tie the value of their life insurance policies to the value of their debts, such as mortgages or car payments. If you die while these debts are outstanding, your beneficiary can use the money to settle these expenses.  

Other people choose to tie their death benefit to their income and leave a certain number of years’ worth of their paycheck to their survivors.  

Upon your death, a specific amount of money, commonly known as a death benefit, is given to the person or people you have chosen, who can use this money as they need.  

What Does Life Insurance Cost?  

Life insurance premiums depend on many factors, including age, income and the amount of coverage you choose. We can assist you in selecting adequate and affordable life insurance no matter where you are in life or your unique situation. 

How We Can Help 

Action Commercial Insurance can get you started on your life insurance today. Call us at 801-802-0401. We will make sure your life insurance policy is reasonable and provides financial protection for your loved ones.