Best Life Insurance Companies in Murfreesboro

Frequently Asked Questions

• What should you consider if you want to replace an existing life insurance policy in Murfreesboro?

  Before buying a new policy, you should thoroughly read your existing life insurance policy in Murfreesboro. Ask your insurance agent if some items are not clear. It may cost you more if you drop the current one quickly, especially early on policy activation, without properly evaluating your needs and goals.

• How can you get a death certificate in Murfreesboro to file an insurance claim?

  When filing an insurance claim, you can get a copy of the death certificate from the hospital or funeral home. A copy can also be requested from the county vital records office. You can contact the local vital records office at 615-898-7880 or visit its location at 100 West Burton Street Murfreesboro, TN 37130. Death certificates can be obtained between the hours of 8:30 a.m. to 4:00 p.m., Mondays to Fridays.

• Will you need life insurance if you have group coverage from employment in Murfreesboro?

  It may depend on your financial goals and budget but do keep in mind that group coverage only provides a certain amount limit and within a specified term. If you switch jobs in Murfreesboro, you will lose the coverage as well. Should you need adequate protection, consider purchasing life insurance and making the group coverage a supplemental policy.

• Why is universal life insurance considered more flexible than other types in Murfreesboro?

  With universal life insurance in Murfreesboro, you can change how much you pay for your premiums. Additionally, it enables you to change the payout amount of the coverage. If the amount is increased, proof will be required that you qualify. However, under this type of insurance, there is a possibility your coverage may end if the account value becomes lower. You can avoid this by increasing your premiums or lowering the payout amount you can get.

• Who can be considered a beneficiary in a life insurance policy in Murfreesboro?

  You can include people, trusts, and organizations in a life insurance policy in Murfreesboro. In most cases, your spouse, children, and grandchildren are the primary beneficiaries. There is an option to name your estate, a charitable organization, your company, or a trust as a beneficiary. Note that some insurance companies put a limit on how many beneficiaries you can include. If there are no beneficiaries indicated in your policy, the benefits automatically go to your estate.

• 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.