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Hilliard, OH 43026

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Life Insurance in Ohio

One of the most important ways to protect loved ones when we die is to create a financial plan that includes life insurance. Not having such a plan in place can result in financial and emotional devastation for those family members that survive the loss of a loved one. Unfortunately, it is not until a significant life crisis occurs that purchasing a policy may be considered. Let's examine the two most common types of life insurance available in Ohio. One of the most important ways to protect loved ones in Ohio or anywhere in the state when we die is to create a financial plan that includes life insurance. Not having such a plan in place can result in financial and emotional devastation for those family members that survive the loss of a loved one. Unfortunately, it is not until a significant life crisis occurs that purchasing a policy may be considered. Let's examine the two most common types of life insurance available in Ohio.

Term Life Insurance

Known as the more simplified insurance option, premiums for a term life insurance policy are typically paid on an annual or monthly basis and remain in effect for the allotted term as long as premium payments are made - typically up to 20 years. Coverage is provided at a tiered fixed rate and will cover financial responsibilities that may be transferred to loved ones after the insureds' death.

The two types of term life insurance are:

  • Level Term Life - this policy provides a guaranteed fixed premium in increments of 10, 15, 20, or 30 years. The amount of the premium is calculated based on the age of the insured.
  • Annual Renewable Term - this policy has a fixed term length of one year. The death benefit is only paid in the event the insured dies within this one-year term. After this period, the term period can be renewed.

Whole Life Insurance

The popular whole life insurance policy in Ohio is the most common plan and provides a guaranteed death benefit that remains in effect for insureds' lifetime. Unlike a term life policy, a whole life accrues a cash value that is funded by premiums that are credited to the policy and earns a fixed interest rate.

Stanley Insurance Group can work with you to develop a life insurance plan that is guaranteed to make sure your loved ones are financially stable in the event of your passing. To discuss a life insurance policy that will meet the needs of you and your loved ones, visit the office of the Stanley Insurance Group in Ohio today.

Our primary location is in Hilliard, OH and we serve our clients in all the surrounding cities in Ohio.

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