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How to Decide on a Life Insurance Policy

Despite its inevitability, nobody likes to think about the end of life. But no matter how uncomfortable the conversation, if you have a family, a mortgage, a business or other assets and responsibilities, you must choose a life insurance policy. L.A. insurance companies offer a variety of coverage options, and the one you choose will depend on your assets, family life and personal needs.

Typically, coverage is available in the form of term life insurance, whole life insurance, annuities insurance and variable universal life insurance. Term life insurance is used to cover mortgages and other large debts in the event that you die at a young age. Once you reach a certain age, whole life insurance is more likely to fit your needs, as it covers funeral expenses and includes a payout at the time of passing. Annuities insurance provides a stream of income for someone late in life, and then a payout once the insured person passes on. Finally, variable universal life insurance, which depends on the stock market, allows you to vary your contributions and has no fixed limit when it comes time to pay out. A reputable L.A. insurance agency will be able to help you determine which life insurance policy will best meet your family’s needs.