Life Insurance Coverage
We know it’s terrible to think about, but life insurance is a necessary safety net for your surviving beneficiaries after your death. If your passing would be a financial burden on others, then you need life insurance. Pinnacle Peak Insurance Group is here to help Arizonans and their families navigate life insurance policies, whether you’re in need of term or permanent life insurance.
Types of Life Insurance For Arizonans
There are two types of life insurance policies: term and permanent. Both of these categories have various types of policies. When you consult with Pinnacle Peak Insurance Group, we can guide you through your options to decide which type of life insurance policy is best for you.
- Term Life Insurance: Term life insurance covers a specific term of your life, or rather – a specific period of time, such as 10, 20, or 30 years. If you pass away within that term, your beneficiaries will receive the payout you agreed to. Once your term life policy reaches its expiration, you can reassess your options and purchase a new policy. This type of policy is great for people who only want coverage while they may be a burden on others – for example, if you chose 20 years, within that time you may pay down your home mortgage and may not need life insurance any longer.
- Permanent Life Insurance: This type of life insurance costs more than term life insurance, but also offers additional features. For example, your permanent life insurance policy will have a cash value that grows over time (the term does not build cash value), and you can borrow against it. There are many types of permanent life insurance including whole life, universal, variable, and variable universal. Permanent life insurance is useful if you want to leave money for your heirs, even if you spend your retirement savings.
How Much Life Insurance Do I Need?
This is a common question we get at Pinnacle Peak Insurance Group. And there’s never any one-size-fits-all answer. The amount of coverage you need is entirely dependent on how much money you would like your beneficiaries to receive after you pass away. A common estimate is 10x your annual income, but you should always take into consideration your current financial situation and future obligations. How much debt do you have to pay? Will your income need to be replaced by your family to maintain living expenses? Would you like to fund your children’s college education?
Pinnacle Peak Insurance Group has been building affordable custom insurance policies for Arizonans since 2012, and our consultations are always complimentary and free from pressure. We are here to answer your questions about life insurance and what goals you have for the future of your family. Contact us at 480-424-4756 to learn more about health and life insurance, or click here to receive an INSTANT online quote today!
Get the Protection You Deserve
Whether you need term life or permanent insurance, put your trust in the knowledgeable staff at Pinnacle Peak Insurance. We can help with getting you the perfect policy in the case of a disability claim or travel accident.
Your family and loved ones don’t have to worry anymore once you find the perfect life and health insurance coverage. Pinnacle Peak will always ensure you are covered in an event of an accident whether at work or in the home.
Learn More about Additional Policy Coverage
Final Expense Coverage – Adding a final expense policy to your existing coverage is a perfect way to assure that your burial and outstanding medical fees are handled. Our team of experts is now ready to find you the right policy that’ll fit your budget.
Covering Your Life and Loved Ones in Every Scenario
- Health Coverage
- Permanent and Term Life
- Disability Insurance
- Travel Accident
- Long-Term Care Coverage
- Supplemental and Annuities
- Medicare and Medicaid