Who doesn’t have lots of questions about life insurance? That would be just about no one. It is not something that most people know much about and even less about how much to buy and what type is right for them. Having an independent insurance agent you can count on is vital when choosing your life insurance. At Otto Insurance Group in Westerville, OH we are there for our customers to answer the important questions about life insurance.
Life insurance FAQs
What is the difference between whole life and term life insurance?
Whole life is life insurance that you will have for your whole life. It also earns dividends that give it an additional cash value over the fave value. Term life insurance has a term; it is a predetermined number of years. At the end of the term, nothing remains. What you are paying for is the protection provided by the death benefit.
If I get life insurance as a work benefit, do I need to buy my own?
The simple answer is yes, you do. No one can guarantee that you will spend your entire career with one company. What if the business fails? What will happen to your life insurance? If you leave your employer, will you be able to take your life insurance with you? What if you get sick and can’t work? You need to know that those that depend on you are covered.
Do you need to get a physical exam to buy life insurance?
Technically not, but you will have fewer choices, and you will likely pay more than if you bought a policy with a requirement for a physical exam. Unless you are in bad health, it is better to choose a policy that requires a physical exam.
Call Otto Insurance Group in Westerville, OH, or stop by our offices to get the insurance you need.