Best Life Insurance Companies in Tempe

Frequently Asked Questions

• Besides supporting family members, why else would a person in Tempe get life insurance?

  A person in Tempe may get life insurance because even if there is no family to support, the insured may want to set aside a fund for charitable purposes, naming a specific charity or cause as beneficiary. The proceeds could also be used to pay for any final and death taxes due when the person passes on, to ease the burden on non-dependent family members.

• In Tempe, what factors determine the amount of life insurance that a person needs?

  In Tempe, the amount of life insurance that a person needs is influenced by factors like one's earning potential and the ability to cover future support expenses, whether or not there is a spouse or children to take care of, the amount of debt that has to be paid, and the age of the insured.

• What happens if a life insurance applicant in Tempe lies about a vital detail like a hidden disease?

  If a life insurance applicant in Tempe lies about a vital detail like a hidden disease, the insurer has grounds to refuse to pay out the death benefits. Insurers have the right to demand higher premiums from people who have an elevated chance of passing on and those who have an illness often owe more because of this.

• In Tempe, what is the advantage of working with an independent life insurance agent?

  In Tempe, independent life insurance agents are able to access the plans of multiple insurance companies without having to restrict themselves. They are not beholden to any single insurer or conglomerate and can pick and choose from a wider variety of products to obtain ideal rates and options.

• Why do insurance agents in Tempe encourage young people to get life insurance?

  Insurance agents in Tempe encourage young people to get insured because premiums are cheaper when one is youthful. Companies associate young age with high survivability and a low chance of passing away. Thus, they are more willing to sell life assurance plans for lower premiums.

• Which is better, term or whole life insurance?

  Life insurance is a personal financial tool, so the right type of insurance for you depends on your goals and current situation. One of the main differences between term life insurance and whole life insurance is that term life insurance only covers you for a set period of time. Once you meet the premium payment requirements on a whole life plan, it covers you for the rest of your life. Whole life insurance also builds cash value, making it a potential investment. But whole life insurance is typically much more expensive than term life insurance.

• How much life insurance do I need?

  A common recommendation is purchasing life insurance that is equal to five times your current salary, or more. But you can also estimate how much life insurance you need by adding up your debts, annual expenses for dependents multiplied by the years you want to ensure support, and any other items you wish to cover, such as a future wedding or college tuition.