Learn More About Our Life Insurance Policies in Natick, MA
Life Insurance by Connell & Curley Insurance Agency, Inc.
Since 1965, the experts at Connell & Curley Insurance Agency, Inc. have provided individuals and families throughout Natick, MA and the surrounding community peace of mind for their family with term and whole life insurance options. As part of our dedication to our clients, we thoroughly research your needs and find the best policy to fit your lifestyle. Life insurance alleviates the financial stress of funeral costs, burial, and other miscellaneous expenses, including debt. The right coverage amount can also be used to help pay off or pay down your mortgage. It's never too early to start thinking about life insurance. Contact our agents with questions about starting a policy.
What Types of Life Insurance Policies Are Available?
There are two basic types of life insurance policies. Each one provides benefits to the policyholder and their family. The
agents at Connell & Curley Insurance Agency, Inc. can help you decide which is right for you. Learn more about the policy options that we recommend for many of our clients:
- Term Life Insurance – Term life insurance provides coverage for you throughout a specific set of time, typically 10, 20, or 30 years. Once your coverage expires, you and your family will not receive any payout if you're still alive. Term life insurance is the preferred insurance policy because it is generally more affordable.
- Whole Life Insurance – Whole life insurance, also known as permanent life insurance, is typically more expensive than term life insurance. However, a whole life insurance policy will never expire and will last until the policyholder dies. Premiums for whole life insurance are usually higher because they account for the policyholder's entire lifetime. There are additional benefits to whole life insurance, including coverage for certain medical expenses.
How Do I Know Which Insurance Plan Is Right for Me?
Knowing which type of life insurance policy is right for you can be difficult. Both plans benefit the policyholders and their estate if the holder dies. Luckily, our local agents have the knowledge and experience to ensure you get the coverage you need. When choosing your life insurance policy, our agents will consider the following:
- Budget – One of the most significant considerations for many policyholders is their budget. Term life insurance is much more affordable because the insurer only covers you for a fixed number of years. Whole life insurance covers you until you die, but the monthly premium is much higher. When determining the right life insurance, our agents will consider your budget to help you make the proper selection.
- Age – Age is always a factor in determining your insurance policy. Your age will affect your premium amounts. Older individuals will generally be responsible for paying a higher premium than younger ones.
- Lifestyle – Your lifestyle will play a large part in determining the coverage that works for you. Many insurance companies will look at lifestyle choices to determine the premium on your policy. You can expect to pay more for coverage if you're considered high-risk.
How Do I Make a Life Insurance Claim?
To claim your life insurance policy, you must first obtain a death certificate for the policyholder. If you choose Connell & Curley Insurance Agency, Inc., our agents will work with you to schedule your payout once we've received a copy of the death certificate. Usually, a payout takes less than 30 days after the death certificate has been sent to us. Payment for the policy amount can be distributed in several ways:
- Lump Sum
- Specific Income Provision
- Life Income Option
- Interest Income Option
How Long Does Life Insurance Last?
How long your life insurance policy lasts is entirely dependent on the type of coverage you choose. For some, coverage may last for as few as ten years, while others may have a policy that covers them for their entire life. Knowing what type of life insurance coverage you need at an early age will help you save money in the long run. Life insurance premiums are typically more affordable the younger you are, and the price only increases as you get older.
Are Life Insurance Benefits Tax-Free?
Life insurance benefits are tax-free to the beneficiaries that receive the payout amount. However, you may be required to report any interest received through the benefit to the IRS for whole life insurance plans. Our team will ensure that your beneficiary is aware of any required tax reporting with their payout to avoid any issues with the IRS.
Local Life Insurance Agents in Natick, MA
The agents at Connell & Curley Insurance Agency, Inc. can help alleviate any concerns you have about your family's financial security after you pass by ensuring you have the proper life insurance policy. Life insurance is essential for helping to pay for funeral expenses, debt, and other costs. We've been the area's premier local insurance agency for over 50 years, and we are confident we can assist you. Our agents can help you save money by bundling your insurance coverage. Contact our team today to get started with your free life insurance quote.