Life Insurance

This is where your journey with EC life Insurance begins. Without life insurance, your loved ones may face financial difficulties, be unable to access funds, or be left without the support of a breadwinner. Ensure the financial security of your family when you pass away. 

What exactly Is Life Insurance?

A life insurance policy should be included in your financial planning. Those left behind may experience severe financial strain in the event of an untimely or health-related death. Rather than leaving your loved ones in this position, life insurance pays out a death benefit that allows them to pay for their needs. A life insurance death benefit is paid immediately and is not subject to taxation.

There are two basic types of life insurance policies: term and whole life. Term insurance is very inexpensive, but it does not accumulate equity. It provides coverage for a specified period of time or “term” of years. Whole life insurance, also known as permanent or universal insurance, guarantees a payout in the future. The higher premiums associated with whole life policies are offset by the accumulation of value over time.

What are the coverage of EC Life Insurance?

Final Expense Life Insurance– The price of a memorial service, burial, cremation, caskets, or urns is covered by these insurance policies. In addition, some insurance plans pay for medical expenses incurred by the deceased prior to death. Based on the death benefit, the insured’s age, and their health, the premiums for this kind of insurance can be expensive or inexpensive.

Fixed Annuities–  A fixed annuity pays out a fixed amount of money which can stabilize income regardless of market fluctuations. When the owner of a fixed annuity dies, the remaining funds may pass to the insurance company or a beneficiary, depending on the plan. Some fixed annuities are designed to provide beneficiaries income and a death benefit. Ensure you have a fixed annuity with a death benefit if you want to provide your family with the necessary financial support after your passing. The insurance company may also offer the option to increase the death benefit’s value.

Mortgage Protection -The monthly mortgage payment is typically the largest expense for an individual or family. It is crucial to maintain current mortgage payments. Mortgage protection insurance makes it possible for your mortgage to be paid off in the event of your untimely demise during the mortgage’s term. You pay a monthly premium for this insurance, which guarantees a lump sum payment to your mortgage lender in the event of your untimely death.



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