Life Insurance

At Hunt National Insurance Group, we take your Life Insurance needs serious.  We have several types of Life Insurance products for you to choose from all of which offer financial stability and protection which is what people are commonly looking for.  You can select from the very basic Term Life Insurance to the more dynamic and flexible ones like Universal Life Insurance.  We help you understand the intricacies that go into every type of Life Insurance so that you have the information to make a good insurance decision. Our knowledgeable and well-training insurance specialists will gladly assist you in finding the right Life Insurance for your needs.

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Term Life Insurance

Term Life Insurance is considered the most basic and most straightforward which is why it falls under the category of temporary life insurance. Its coverage is good only for the term that is stipulated, such as, 10,15,20 or 30 year terms, which are common. Assuming that premiums are paid and the insured dies within the term under his/her policy, then his beneficiaries are entitled to receive their death benefits. However, if the insured outlives his Term Life Insurance, then he has outgrown his coverage and will need to arrange for a new Term Life Insurance or a totally different Life Insurance should he/she need it.

Whole Life Insurance

Whole Life Insurance is a permanent type of life insurance. Permanent in the sense, that as the name suggests, the insured will be covered for the rest of his/her life. Whole Life insurance premiums may be higher than that of Term Life but with the surety that when the insured dies, his beneficiaries are guaranteed to receive his/her death benefits. In addition, there is a cash value aspect associated with Whole Life Insurance. A portion of the premiums which the insured pays goes into an account which, at the event of his death, that can be given to his beneficiaries . This type of insurance policy suits people who will not have a problem paying a lifetime of premiums in exchange for the guarantee of leaving a legacy behind for their loved ones.

Universal Life Insurance

Another type of permanent life insurance is Universal Life Insurance. This is a highly flexible life insurance policy which allows the insured to create both a life insurance policy and a cash value account in one stroke. The insured has control over the frequency and amount of premiums that he wants to pay. Any excess of the premiums will be for the cash value account. Certain charges will be deducted from this account, such as cost o f insurance, policy charges and fees. The cash value account, however, earns interest. This account value may be used by the insured whenever the need arises but it will decrease the amount of the death benefits the beneficiaries will receive.

Mortgage Protection Life Insurance

This type of insurance will benefit the loved ones of the deceased insured. With Mortgage Protection Life insurance, the insurance company will pay the beneficiaries the amount that the insured owes the mortgage lender at the time of his/her death. This can be an alternative way to assure your loved ones that they won’t be paying for any outstanding debts at the death of the insured.

Final Expense Life Insurance

The death of a loved one is already hard enough to accept and if it happens so suddenly, loved ones may be hard-pressed to find the financial ability to pay for funeral expenses if they’re not prepared. The Final Expense Life Insurance is primarily meant to be a financial help upon the demise of the insured. It will often pay out between $10,000 to $20,000 to the beneficiaries of the insured and may or may not be used to cover funeral expenses. This type of life insurance is usually available for policyholders between 50 to 80 years old.

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