Secure your family’s financial future with the right life insurance in Hollywood, California.
While life is filled with happy surprises and exciting events, sometimes life can be marked with tragedy. If your partner, children, or other loved ones rely on you for their financial stability, then it’s important to take steps to protect them from the worst. While you may hate to think about it, securing the right life insurance in Hollywood, California is the best way to offer your family the financial protection they would need in the wake of your unexpected death. Because everyone has different financial responsibilities and income levels, we at Makar Technique Insurance Agency offer a wide array of life insurance options to fit your lifestyle and budget. Here are our life insurance offerings explained in more detail.
Term life is the most popular form of life insurance out there. When you think about life insurance, you are probably imaging a term life policy. Term life policies offer life insurance coverage for a set amount of time, generally 10-30 years. During their term, the policyholder will pay their regular insurance premiums. If the policyholder passes away during their term, then their beneficiaries will receive a previously-agreed upon payout. However, once the coverage term has expired, the insurance company no longer has financial obligations to the policyholder’s beneficiaries. Because the coverage offered in term life insurance plans is very straightforward and temporary, these policies tend to be more accessible and affordable. At Makar Technique Insurance Agency, we offer our clients the ability to customize their term life coverage amounts and their coverage periods to create a policy that perfectly suits their needs.
As the name suggests, whole life or permanent life policies offer life insurance coverage that never expires. So, unlike term life policies, you never have to worry about your coverage expiring and your family losing out on your death benefit. Whole life insurance policies also offer a savings component known as “cash value.” A portion of your insurance premiums is set aside as your policy’s cash value. This value increases over time, and you are allowed to withdraw these funds or borrow against them without compromising your death benefit. Because permanent life insurance has a guaranteed payout, financial institutions will treat your policy as an asset. As such, securing a whole life insurance policy can be a great way to diversify your portfolio. Because whole life policies are more complicated and expensive than term life policies, this coverage is not as common and is best suited for individuals with disposable income.
This is what the right life insurance in Hollywood, California can do for you. Curious to learn more about our extensive coverage options? Then don’t hesitate to contact the experts at Makar Technique Insurance Agency today.