Life Insurance in Washington state
Life insurance is not only the cornerstone of a solid financial plan, but it’s hands down one of the most cost effective ways to protect the people who depend on you financially.
At PNW Insurance Group, we make the process of buying life insurance extremely simple. We have access to a wide range of life insurance companies so we can survey the marketplace and based on your individual rating criteria, find the best possible life insurance policy at the best price. Get a life insurance quote today.
What is Life Insurance?
Life insurance is a monetary contract between you and an insurance company. When you (the policyholder) die with an active life insurance policy, your insurance company will pay a tax-free sum of money (the death benefit) to your beneficiaries, in exchange for the premium payments you paid. The death benefit can be used to pay for funeral costs, bills, or any other purpose.
When purchasing life insurance there are a few things to consider. Do you want Term Life Insurance, or Whole Life insurance? If you don’t understand the difference that’s okay. That’s what we’re here for. It’s also important to note that life insurance is based on two main variables — your age, and your health. Contact us if you have any immediate questions.
Do I need Life Insurance?
If you have a child, are married, or you are carrying any kind of debt, purchasing life insurance is a no-brainer. If all three, well, hopefully you already have life insurance. Here are a few other reasons to have life insurance though:
- charitable donations
- pay federal death and estate taxes
- create an inheritance for your heirs
- pay final expenses
In addition, here are some questions to consider if you aren’t sure if life insurance is right for you. What would happen to your family if you were to die prematurely? Would they be able to maintain their current lifestyle? Would your kids be able to go to college? Would your spouse be able to shoulder the load with one income? After considering these questions, you will most likely find that a life insurance policy is the best solution.
How much Life Insurance do I need?
A mistake that we often see people make is basing their life insurance coverage on a guess, or just grabbing a number out of thin air without realizing what the impact of inflation could have on their life insurance proceeds.
One of the benefits of working with an independent agent like us is that we can sit down, and through a comprehensive needs analysis, determine the exact amount of coverage you will need to protect the people who depend on you.
The amount of coverage you need depends on a number of different variables. Here are a few examples:
- how many children you have
- your future earnings potential
- whether or not you’re married
- spouses future earnings potential
- you and your spouses age
- amount of debt you have
How to Get Started on Your Life Insurance Quote
To get started on your life insurance quote today simply call our office directly or complete the fields below!
We understand you may be concerned about the specifics of life insurance. So, while we are based in Puyallup, we are happy to share that we also serve clients all across Washington state in cities like Ferndale, Monroe, Tacoma and yes even Spokane!
Our local and independent insurance agency is ready to answer all your questions about life insurance. Get your online quote from one of our independent life insurance agents today!