Life insurance

Why life insurance?

A life insurance policy is a contract with an insurance company that in exchange for your premiums provides a lump sum payment to your designated beneficiary when you die. There are several types of life insurance, each with their own purpose. At Pendo Insurance, we often recommend life insurance as great tool to have in your financial toolbox as a flexible estate planning strategy to help preserve and transfer wealth.

Another common use of life insurance is for long-term income replacement, where the need extends beyond working years. Some types of life insurance build cash value in addition to providing a death benefit. Typically, life insurance is chosen based on the needs and goals of the owner. Term life insurance generally provides protection for a set period of time, while permanent insurance, such as whole and universal life, provides lifetime coverage. It’s important to note that death benefits from all types of life insurance are generally income tax-free.

What’s right for you?

As an independent broker, Pendo Insurance can provide you with objective, expert advice on which type of life insurance can best meet your needs, which specific product will provide the optimal coverage for your situation and ensure a smooth, timely application process. Please contact us at 800-445-7198 for your free life insurance consultation so that we help you determine the right life insurance coverage for you and your loved ones.

Life Insurance FAQ

Here are answers to some additional questions that you might have about life insurance.

What Are the Types of Term Life Insurance Policies?

There are five main types of Term Life Insurance for which you can receive a life insurance quote.

What Are the Types of Permanent Life Insurance Policies?

There are four types of permanent life insurance for which you can receive a life insurance quote

What Are the Principal Types of Life Insurance?

Life Insurance is divided into two major categories: Term Life Insurance and Permanent Life Insurance.

What is Life Insurance?

Life insurance can be a financial resource for your loved ones in the event of your death.

How Can I Save Money on Life Insurance?

There are ways to save money when buying life insurance. As your top priority, look for a policy that meets your needs.

How Do I File a Life Insurance Claim?

Get several copies of the death certificate, stating date, place and cause of death. You can obtain the death certificate from the funeral director.

How Often Should I Review My Policy?

You should review your insurance needs at least once a year. If you have a major life change, you should contact your insurance agent or company representative as soon as possible.

Where Can I Get Additional Information on Life Insurance?

For more details on life insurance, visit one of these resources.

What are the Advantages of Permanent Life Insurance?

You can lock in premiums when you purchase a permanent policy; the premium will not increase as you age or if your health status changes.

Life Insurance Guide

Now that you’re ready to get a life insurance quote, there are a few remaining questions to consider.

How Do I Pick a Life Insurance Company?

Many people choose their insurance company simply based on the competitiveness of their life insurance quotes. Price is important, but it should not be the only factor in your decision. There are other factors to consider in picking a life insurance company.

How Should I Choose What Type of Life Insurance to Buy?

Life insurance is a long-term commitment. Before getting a life insurance quote, ask yourself some very important questions that will help you determine what type of life insurance to buy.

How Should I Choose a Life Insurance Agent?

Buying life insurance can be complicated and confusing. The key to buying the right amount and the right type of policy at a good rate is a good agent or broker.

How Do I Assess the Financial Strength of an Insurance Company?

When choosing a life insurance company, one of your primary considerations should be their degree of financial strength.