Our company, Doran Insurance, is a leading provider of term life insurance in Macomb, Aledo, Roseville, and other nearby communities in northwestern Illinois. Life insurance is looked upon by many as an estate planning tool, and younger adults often feel as though they do not have to think about the subject until they attain senior citizen status. A Gallup poll that was conducted in 2016 shed some interesting light on the subject. It found that only 35 percent of adults who were between the ages of 30 and 49 had last wills in place. The figure was just 14 percent for the 18 to 29 age group.
Clearly, most people do not pass away when they are under the age of 50, but it does happen every day. In reality, it can be argued that estate planning is more important for young adults than it is for their older counterparts. This is because of the fact that people who are in the age groups that are usually unprepared often have spouses and children relying on them. On the other hand, the children of senior citizens are typically going to be able to take care of themselves.
Term life insurance is the ideal vehicle of income replacement for individuals who have financial responsibilities to others. As the name would imply, when you take out this type of insurance, you are covered for a particular term. The younger you are when you obtain the coverage, the lower the premiums will be, so it is quite affordable for healthy people who still have dependent children in their homes. As you reach certain age thresholds, the premiums increase incrementally, but they are still manageable for most people who are in their 50s or younger.
We should point out the fact that the premiums are relatively modest, but there is no cash value, and you cannot take out a loan secured by the money that you have paid into the policy. There are other forms of insurance that do accumulate value, and we would be more than glad to provide you with all the details and explain the pros and cons to you.
Though term life insurance is an affordable form of coverage in a general sense, premiums can vary widely company by company. It is important to obtain the best value that you can, but you probably do not have the time or the inclination to contact 10 or 15 different insurance companies to get quotes.
This is understandable, but getting you the lowest price for your term life insurance is what our business is all about. We have relationships with numerous different highly respected insurers, so we have the ability to compare quotes that are being offered. At the end of the day, you can walk away with the term life insurance coverage you need at a rock bottom price.
Contact Doran Insurance Right Now!
If you are in Macomb, Stronghurst, Aledo, Oquawka, or Roseville, IL term life insurance is just a phone call away, and we also serve clients in Burlington, Iowa. You can speak with one of our knowledgeable agents right now if you call us toll free at 800-967-6534.