What is Life Insurance?

Life insurance is a contract between an individual and an insurance company, providing financial protection for beneficiaries in the event of the policyholder’s death. It ensures that your loved ones are shielded from economic hardship during difficult times.

Why Do I Need Life Insurance?

Many individuals opt for life insurance to secure their family’s financial future. If you have dependents, debts, or future obligations, a life insurance policy can act as a safety net, ensuring that your family maintains their lifestyle even when you are no longer around.

How Do I Choose the Right Policy?

Selecting the right life insurance policy requires careful consideration of several factors. Think about your current financial situation, future needs, and how much coverage you want. There are various types of policies, including term life insurance and whole life insurance, each serving different purposes.

When Should I Purchase Life Insurance?

The ideal time to purchase life insurance is when you have dependents or significant responsibilities, such as a mortgage. The younger and healthier you are, the lower your premium is likely to be. It’s wise to review your policy regularly, especially after major life changes, such as marriage or having children.

What Factors Affect Life Insurance Premiums?

Multiple factors influence your life insurance premiums, including age, health, lifestyle habits, and the type of policy chosen. Generally, healthier individuals with fewer risks in their lifestyles tend to receive lower rates.

How many policies were paid out in 2023?

Direct from Globe Life, Liberty National Website:

In 2023, Globe Life paid $1,765,503,087 in claims.

That’s $1,088,985,144 in life insurance claims and $676,517,943 in health insurance claims!*