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Atlas Insurance Agency

520 E. 4th Street
Royal Oak, MI 48067

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Types of Life Insurance

For everyone who has loved ones who depend on them, it’s important to have life insurance so that they are taken care of after you are gone. With life insurance, you can leave something behind so that those loved ones aren’t left struggling. There are two primary types of life insurance that you can choose from when picking your life insurance policy. To get started with life insurance, call us at Atlas Insurance Agency in Southeast Michigan.

Types of Life Insurance

Whole Life Insurance Policies

These policies are named for how long they last. With one of these policies, it will last for your whole life long no matter what age you reach. When you have a whole life policy, it is more expensive than the other primary type of life insurance, but it offers a lot of protection. It never expires as long s you keep paying your insurance premiums. This type of policy also builds up a value that you can eventually borrow against should you need to. This can offer you great peace of mind in case of an emergency. 

Term Life Insurance Policies

This type of policy is also named for how long it lasts. When you have a term life policy, it is in effect for a specific term. This may be 10 years, 20 years, etc. Once that term is over, the policy expires. Many people don’t like the idea of their policy expiring and having to apply for new insurance when that happens, but these policies tend to be low-cost. They are a more affordable choice, and many people find that this is the type that will fit within their budgets. 

Get Life Insurance 

It’s important to those around you that you stay covered with a life insurance policy. Call us at Atlas Insurance Agency in Southeast Michigan.

Is life insurance necessary for burial expenses?

The Atlas Insurance Agency is here to serve the insurance needs of the Southeast Michigan community, including your family. If you would like to learn more about life insurance and how it can help defray the cost of burial expenses, give us a call today.

Benefits of using life insurance for burial expenses

Losing a spouse can be a traumatic experience, no matter when it happens. Many people think about life insurance as an effective tool to protect young families, but it can be helpful for people of all ages.

The amount of the cost of burial expenses can vary from situation to situation. However, it is an expense that can be unexpected if there is an untimely death in the family. When someone dies, in addition to the grief that accompanies your loss, you may also be dealing with the stress of medical bills.

When you are able to use life insurance to cover burial expenses, it can be a relief during a very trying time. Life insurance can be paid out immediately upon receipt of a death certificate. This means that you won’t have to scramble for the funds. Accessing savings during this time can also increase your stress.

Having a life insurance policy in place for burial and other end-of-life expenses can help your family during a very difficult time. Financial concerns can become a serious source of stress when there is an extended illness that includes a lot of medical expenses. When a death is unexpected, you may not have funds available.

Find out more about covering burial expenses today

If you are in the greater Southeast Michigan community and have questions about life insurance, you can turn to the Atlas Insurance Agency. Call or stop by our office today!

Do Pre-Existing Conditions Affect Life Insurance?

At Atlas Insurance Agency, we serve Southeast Michigan with many types of insurance. For example, we provide life insurance for many people, including those with pre-existing conditions. But how can these diseases impact your policy and its execution? Would you please read on to learn more about what kind of conditions may affect your policy and how you can prepare for this issue?

How Pre-Existing Conditions Affect Life Insurance 

If you have any health troubles before you get a life insurance policy, it is essential to let your policy provider know. They’ll adjust your policy accordingly or ask you to get a medical screening before giving you a policy. In addition, you may have some limitations on your policy, though this fact is rarer now than it was in the past. Just a few pre-existing conditions to watch for include: 

  • Heart-related problems, like high cholesterol or blood pressure 
  • Obesity as defined by your insurance provider 
  • Specific mental health problems, like depression or anxiety 
  • GERD or gastroesophageal reflux disease
  • AIDS or other auto-immune conditions 
  • Cancers of just about any type 

When buying your policy, you’ll have to understand that your pre-existing conditions may affect the length of your insurance term and much more. So make sure that you work directly with your provider to find the type of policy option that seems to make the most sense for your current health needs.

Getting a Policy You Can Trust 

If you have a pre-existing condition in Southeast Michigan and want a life insurance policy that makes sense for your needs, please reach out to us at Atlas Insurance Agency right away to learn more. Our team will sit down with you and figure out what kind of policy makes sense. And we’ll do what we can to adjust our coverage to suit your pre-existing conditions and their unique impact.

Frequently Asked Questions About Life Insurance.

Atlas Insurance Agency serves Southeast Michigan with veritable insurance services for all aspects of life. Many people keep their property well insured but put off life insurance. If you have been on the fence about life insurance for you and your family members, here are a few frequently asked questions that may clarify the decision.

Life Insurance FAQs

  • Who needs life insurance? It may come as a surprise that all people need at least some life insurance. Even if you have no dependents, a basic policy can cover your funeral care. If you have any dependents, then enough coverage to cover any bills you pay and your funeral is important. Even children need basic coverage for the unthinkable.  
  • How do I choose a beneficiary? If you are married, then your spouse is an obvious choice. If you are unmarried, your parents or a trusted sibling can be left as a beneficiary to anything remaining after your death expenses. 
  • When should I purchase additional insurance? As your life changes, your life insurance may need to change as well. For example, if you started a business and have employees, it is good to purchase a policy to protect your company. If you just had a baby or got married, you will likely want to upgrade your coverage and update your beneficiary. There are many situations where you will want to protect those around you in case of your demise financially. 

If you live in our around Southeast Michigan, contact us at Atlas Insurance Agency to discuss your life insurance policy options. We will be happy to answer any questions you may have. You may discover purchasing a policy is much simpler than you expected. Call today.