Life insurance is there when the inevitable happens. If you have a family or loved ones that you want to take care of when you die, a life insurance policy can do that for you. There are many types of life insurance. Each kind of life insurance functions differently, so you should choose a policy that’s best for your circumstances. 

At Bryan Insurance Agency LLC, servicing New Windsor, NY, we can help you choose a policy. We’ll help you understand the differences between each type of policy so you can choose the right one for you.

Whole Life Insurance

Whole life insurance is a policy that lasts as long as you keep paying the premium. The payout for whole life insurance is fixed. Typically, the premiums on whole life insurance stay the same for the life of the policy.

Term Life Insurance

Term life insurance is a temporary policy that is only active for a specified number of years. Most term life insurance runs out after 10, 20, or 30 years. People choose term life insurance because of its low cost. The payout is a fixed rate. 

Universal Life Insurance

Universal life insurance is similar to whole life insurance because the policy lasts as long as you keep paying the premium. The premiums for universal life insurance may go up with time, and at any point, if you can’t afford the premium, you can reduce your payments by reducing the death benefit.

Life insurance can help take care of your family if you pass away. If you’re not sure what type of insurance is best for you, talk to your insurance agent at Bryan Insurance Agency LLC, servicing New Windsor, NY. We’re here to help.

Term life insurance provides coverage for a specific amount of time. Learn about this type of coverage. If you want to purchase a policy, contact one of our Bryan Insurance Agency LLC representatives for assistance.

Whole Life 

A whole life insurance policy provides coverage throughout a person’s life. This type of policy often builds a cash value that can be borrowed against. Because a whole life insurance policy is valid for a long duration, this type of insurance coverage is often more expensive than the cost of a term life policy.

Term Life

A term life insurance policy will remain valid for a specific amount of time. The insured will be supplied with a fixed rate. This rate will not change while a term life insurance policy is valid. Once the term life insurance policy has expired, the insured will need to purchase a new policy if they would still like to be covered.

A term life insurance policy will not build a cash value that the insured can borrow against. Because a term life insurance policy is only valid for a specific duration, the coverage may be much more affordable than purchasing a whole life policy.

Additional Information

Consider how a term life insurance policy can benefit you. If you have young children, you may want to purchase a policy that will guarantee that your children will be financially supported if you die before they are legal adults. If you have teenagers who are in college, you may also benefit from having term life coverage.

Contact Bryan Insurance Agency LLC

If you want to purchase a life insurance policy, contact one of our agents who serve New Windsor, NY. An agent will outline the life insurance products that you can select from.

While no one likes discussing life insurance, it’s a topic that must be addressed and planned for. Most people think that you should be around 40 or 50 to start thinking about purchasing a life insurance policy, but is this true? At what age should you start considering buying life insurance as a New Windsor, NY resident (or anywhere else)?

It’s Never Too Soon

You’re never too young to start thinking about purchasing life insurance. Some parents even have life insurance for their children, like a "grow-up" plan. These plans mature with the child but can also be used if the unfortunate happens early. So, if you’re young and just starting in the workforce, purchasing a good life insurance policy is not a bad idea. Many companies will even provide up to a certain amount of life insurance while allowing you to purchase more. 

Rates Are Lowest For Young People

There are advantages to purchasing a life insurance policy while you’re young. One definite plus is that rates are the lowest for young people, so the sooner you obtain a policy, the less you’ll pay. Some prices are locked in, so rates won’t increase with age, but this depends on the company and the type of life insurance. 

No one can ever predict when they might die. An unexpected illness or accident could occur at any time, which is why there is no specific age at which a person should purchase life insurance. Call us at Bryan Insurance Agency LLC if you’re looking for a new insurance agency. We cover the New Windsor, NY area in addition to others. You won’t be disappointed by contacting us because, at Bryan Insurance Agency LLC, we focus on providing the best customer service as well as supreme coverage.

Life insurance is one of the best ways to have peace of mind, knowing that your loved ones will be protected if you pass away. If you’re in or near the New Windsor, NY area, Bryan Insurance Agency LLC can help you find the right policy and coverage level for your needs. Here’s what to consider when choosing this type of insurance.

What You Need to Know About Life Insurance

First, there’s more than one kind of life policy. Term life is designed to provide coverage for a set period, after which it will expire. The whole life doesn’t expire, but it will have more requirements to start the policy. You may have to undergo medical exams and have ongoing requirements to keep the policy in force, especially past a certain age.

Second, a whole life policy will cost more than a term life policy in most cases, and you may be able to use the accumulated value of a whole life policy in the future for medical care or other expenses, even while you’re still alive. A term policy doesn’t have any of those options and will need to be replaced with a different policy when the term expires.

Lastly, the level of coverage you choose should be based on what your loved ones will need if you pass away, based on your current family dynamic, age, and other factors. As you grow older, you may want to adjust your policy. This is also true of any significant life events you experience, such as getting married or having a child.

If you’re in the New Windsor, NY area and interested in talking to a trusted professional about life insurance, contact us at Bryan Insurance Agency LLC today. We’re here to help you find the right policy and more peace of mind.

We know that investing is an important part of financial planning, but what qualifies as an investment? At Bryan Insurance Agency LLC, serving New Windsor, NY, and the surrounding areas, we want to help clients understand how insurance works into their investment plans. Keep reading to learn more about life insurance as an investment. 

Is Life Insurance an Investment?

Yes, life insurance can be considered a type of investment. Life insurance is different from other investments because this is not an investment you will benefit from directly. This is an investment that your beneficiary will benefit from in the event of your death. This is the type of investment you make on behalf of others. 

How Does Life Insurance Work?

When you purchase a life insurance policy, you will set it for a specific amount. This benefit amount is the amount of money that will be paid to your beneficiaries in the event of your death. You will pay a monthly premium for this insurance policy each month. 

Your beneficiary will file the benefit claim in the event of your death. The insurance company will then disperse the benefit amount to them. 

How Much Life Insurance Should I Purchase?

This is a very personal question, and the answer is based on many different factors. The easiest way to determine how much life insurance to purchase is to sit down with an insurance rep and discuss the specific details of your financial situation and your goals for your family. 

If you want to learn more about life insurance, please get in touch with us at Bryan Insurance Agency LLC, serving New Windsor, NY, and the surrounding areas. We will happily answer your questions and find the right products for you. 

Priscilla Presley recently made headlines when it was announced that she was contesting her daughter, Lisa Marie Presley’s, life insurance beneficiary and the trust set up for her grandchild’s inheritance. This has left many people wondering if someone can dispute life insurance beneficiaries and how you can work to prevent that from happening to your loved ones once you pass. Read on as Bryan Insurance Agency LLC, helping New Windsor, NY residents with their life insurance needs, helps to answer this question. 

Can Someone Dispute Life Insurance Beneficiaries?

While it is rare, family members can dispute life insurance beneficiaries. This most commonly happens when someone listed as a beneficiary has passed away, if a new child was not added to the life insurance policy, or if an ex-spouse is still listed as a beneficiary. 

How Can You Minimize the Chances of Disputing Your Life Insurance Beneficiaries? 

The best way to minimize the chances of anyone disputing your life insurance beneficiaries is to ensure you keep your beneficiaries up to date. As a general rule of thumb, you should review your beneficiary information every year. If your life has changed and you wish to add or remove beneficiaries, always obtain a notarized document stating your wishes. Additionally, prepare a will that aligns with the life insurance policy so there are no doubts about your final wishes. 

A life insurance policy can help provide your loved ones with money to pay for your final expenses once you pass away. Here at Bryan Insurance Agency LLC, serving the greater New Windsor, NY region, our team would love to help you determine how much life insurance you need and help ensure that no one can dispute or contest your beneficiaries. Contact us today to schedule an appointment with one of our insurance agents. 

While it may not be the first thing on your mind when you start a small business in New Windsor, NY, protecting your professional investment in the event of your untimely death should be a top priority. Life insurance can ensure your business can continue operating if something happens to you. Here’s what you need to know about how life insurance from Bryan Insurance Agency LLC can provide security for your small business.

You are providing a financial buffer while your business adjusts to your absence.

Suppose you list your business as a beneficiary on your life insurance policy. In that case, the death benefit will be paid to your company if you die. As the business owner, your life insurance policy can also reduce the tax your company will pay on the death of a founder or key individual. This financial compensation can help keep your business afloat after you die.

You are preparing your business for succession.

A life insurance policy for a business owner can help keep the business running in the event of the owner’s death. The beneficiary can use the death benefit to pay off debts, support the family, or keep the business running—whatever the policyholder wishes. This can be a crucial financial lifeline for a company during the transition.

On choosing a business life insurance policy.

A key person life insurance policy is a life insurance policy that a business takes out on its most valuable employee or employees. On the other hand, a cross-purchase agreement is an agreement between business owners to collectively purchase the interest of any owner upon death. Both contracts have advantages and disadvantages, and carefully consider which is right for your business.

Bryan Insurance Agency LLC is a life insurance company based in New Windsor, NY. We offer a variety of life insurance products to meet your needs. Contact us today to learn more about our products and services.

Life insurance can make life much easier for those you love if something happens to you and you are not there to provide for them. We are independent insurance agents at Bryan Insurance Agency LLC in New Windsor, NY, giving us access to more choices to help find the perfect policy for you at a price you can live with. 

Why may a life insurance policy refuse to pay the death benefit?

Most policies will pay for accidental death or natural causes with proof of death. If your policy is less than two years old, more questions may be asked, and the application may be looked at more closely. If any misrepresentation was made in the application, that could result in a refusal to pay. Also, if the death resulted from suicide, most policies will not pay if it occurs in the first two years. 

Can I extend my term policy?

In many cases, you can, but you will not be eligible for the same rate currently. You may receive that information when you take out your policy, but it is worth discussing with your agent if you think it is possible. 

Do I have to choose my spouse as the beneficiary?

Your choice of beneficiary can be anyone you choose. Keep in mind that children will not be able to collect the benefit until they are of legal age in the state where they live. 

Is it ever too late to buy life insurance?

As long as someone depends on you, probably not. Some people use their life insurance to pay for final expenses, which removes the burden on their loved ones. 

Contact Bryan Insurance Agency LLC in New Windsor, NY when you are ready to discuss the benefits of life insurance. 

Different factors can affect the final cost of your life insurance policy, including your health, age, and the preferred coverage amount. You may also want to consider switching to a policy with a shorter term if you are no longer working or disabled and still want coverage. For expert advice in New Windsor, NY, call Bryan Insurance Agency LLC.

Factors Affecting the Life Insurance Premium 

Life insurance costs vary from one person to another based on your health profile, the amount of coverage you select, and the length of time for which you purchase the policy. Even if two people select the same amount of insurance, the longer the time, the higher the cost. 

Your health profile, which determines your rate class, is essential in determining a policy’s price. Another important consideration is the policy duration. The greater the rate, the longer the duration. The more protection you choose, the higher the rate. 

The coverage amount, the policy’s length, level of risk, and other factors all come into play when determining the insurance premium. The cost of a particular policy will also vary depending on the particular insurer. 

Consumers can shop around and compare various policies and providers to find the best price on life insurance. Below are some of the factors that will impact the premium cost for your life insurance: 

• Age 
• Gender
• Health History
• Family Health History
• Smoking
• Hobbies 
• Occupation 
• The Policy 

Final Words 

Your rate is determined by the factors mentioned above. The lower the amount you anticipate getting, the closer you are to retirement. Your rate will undoubtedly be greater if you have a pre-existing disease, such as diabetes. 

You can also expect a lower rate if you purchase a smaller amount of coverage. For expert help, contact the Bryan Insurance Agency LLC team in New Windsor, NY.