Life insurance is not the easiest type of insurance to understand, but it may be the most important. Your dependents are counting on you to take care of them in the event you pass away and that is a frightening thought. That is where the agents at L M Insurance & Financial Services LLC in Bronx, NY come in. We will help to familiarize you with the different types of life insurance and how much you need. 

FAQs about life insurance

Why do I need a medical exam to get a policy?

You are a risk to the insurance company. They want to know what your health is so that they know the level of risk you present. When they sell you a life insurance policy, they are gambling that you will outlive the term of your policy.  They need to know all your vitals and things like your weight, and whether you smoke or not will be considered when deciding whether or not to insure you and what your premium will be.

What do you do when the insured dies?

You need to notify the insurance company that the insured has died. You will need to file a claim. You must have the insurance policy number, a certified death certificate, and proof of who you are. It is quite a simple process and rarely takes more than 60 days to process. 

Do I need to insure my children?

No, you don’t need to, but some parents choose to. It is a form of savings and it will last a lifetime and allow your child to be guaranteed to have life insurance even if they have health issues later. It is only good if it is something you can easily afford. 

Contact L M Insurance & Financial Services LLC in Bronx, NY to talk about what your life insurance needs are.