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Life Insurance

happy older couple hugging because they have life insurance

Why Do I Need a Life Insurance Policy?

Life insurance provides a safety net so your family is protected when you pass away. General term life insurance can provide your family with income, cover debts and basic needs, and even help pay for the mortgage or college. Having a life insurance policy is about taking care of the people that matter to you the most. We know you work hard to provide for them, so why not make sure they are taken care of in case the unexpected happens? That’s where life insurance comes in.

Get a life insurance quote online by or by calling 800-777-5620 to talk to an insurance advisor who can help you choose the right policy for you and your family.

What is Life Insurance and How Does it Work?

Life insurance policies work similarly to other types of insurance policies. You determine how much coverage you need, how long you need it, and then make your payments. If your policy is still active when you pass away, the people you have listed on your policy as beneficiaries get paid the death benefit, typically in one lump sum.

The money your beneficiaries receive from your life insurance policy can help pay for a college education, pay off a mortgage, keep a family business going, or any other way you might want to protect the future well-being of your loved ones.

Freeway Insurance can help you navigate through life insurance options and find the best fit for your needs and budget. Protecting your loved ones doesn’t have to be expensive; we are experts at tailoring affordable life insurance plans regardless of your circumstances.

How Much Life Insurance Do I Need?

There is no clear-cut answer when it comes to getting the best coverage, each person has different priorities and goals. That’s why it’s important to find a knowledgeable insurance company that puts your best interests first.

Types of Life Insurance Plans

Freeway Insurance offers two types of life insurance:

Basic Whole Life Insurance
Whole life insurance provides a guaranteed payout no matter when you pass away, as long as you keep paying your premiums. Whole life insurance can be a good choice if you’re looking for comprehensive lifetime coverage (as long as you meet the policy’s term).

It provides the additional benefit of building cash value that can be accessed within the lifetime of the policyholder. Whole life insurance focuses on long-term protection.

Term Life Insurance
Term life insurance offers the most affordable premium payments and a comparable payout. As long as the premiums are paid, the policy lasts the selected term length (standard options are 10, 15, 20, and 30 years).

Term life insurance could be your best option if you need affordable coverage for a specific period. It provides straightforward protection when you’re on a budget and allows you to choose the term of the policy, but can be converted to a permanent policy if you chose to do so.

Term life insurance is geared toward protecting your family in case of your sudden death, as the payout could serve as a replacement for the income you provide. Term life insurance could help your loved ones:

  • Pay off any debt or mortgage
  • Cover immediate expenses after your passing
  • Pay for a college education.
  • Have extra protection during the child-raising years.

Buy Life Insurance While You’re Young

Older is not wiser in the life insurance market since rates are based partially on age. The older you are, the closer you are to passing away—which means the closer you are to having your policy cashed out by a beneficiary. Your best strategy is to apply for life insurance while you are young and healthy so you qualify for the best rates.

Free Life Insurance Quote

Protect the future of your loved ones with life insurance from Freeway Insurance. We offer a variety of low-cost plans, some without a medical exam requirement.

Your quote from Freeway Insurance will allow you to compare rates for the best life insurance companies and choose the policy that best fits your needs and budget.

Start your free life insurance quote online, over the phone, or at one of our offices near you.

Have questions? See our life insurance FAQs.