Life insurance is a tool to plan and protect one's estate and family life in case of his/her death. The type of policy to be chosen by the insured depends on many factors, including insured's age and the age of his/her family, insured's health, and the level of financial hardship the insured's family might face if the former were to die.
Arizona Life Insurance Policy Types :
The three types of Arizona life insurance policies are Term Life, Whole Life and Universal Life.
Term Life Insurance is purchased for a definite time period. This policy is generally the least expensive, but if the term ends and the insured have not used the death benefit, the policy expires. Term life insurance is renewable and the policy premiums often become higher as you get older.
Whole Life Insurance is a policy which pays face value irrespective of the time when the insured dies. There are Level Premium Whole Life policies which require lifetime payment, or Limited-Pay Whole Life policies with higher payments over a limited number of years.
Universal Life Insurance is one which benefits both the insured while he/she is living, as well as help your beneficiaries after his/her death. The premiums are often lower than that of whole life insurance, but changes in interest rates will affect both the yields and premiums for the policy.
Arizona Life Insurance Companies include:
• American Family Insurance
• Phoenix Arizona Life Insurance
• Farmers insurance
• American Income Life Insurance Co Inc
• Colonial Life & Accident Insurance Co
• Massachusetts Mutual Life Insurance Co
• Oxford Life Insurance Co
• Provident Mutual Life Insurance Co
• Union Central Life Insurance Co
• Variable Annuity Life Insurance Company
