Your Orange County Life Insurance Provider
Regardless of your age or financial circumstances, life insurance is an absolute necessity to have. Having a policy in place helps alleviate the stress and burden our families face when losing a loved one, and its uses come into play in so many real life, practical forms. Because of the many advantages, Williams Insurance makes it a priority to provide our customers with the most affordable, thoughtful plans, and we go the extra mile to make sure that you and your family members are taken care of and feel safe at all times.
Why Have an Orange County Life Insurance Policy?
Having a policy in place is the cornerstone of financial planning. The first thing your policy does is pay for the expenses of your passing, which can sometimes end up being much greater than initially expected. It continues to protect those you love who depend on you for financial support by paying out a death benefit and replacing your loss of income as the primary wage earner of the family. The proceeds your family receives could mean that they have the ability to pay off any debts they have inherited at the time of your passing, which means they will not be forced to sell of any inherited assets or assets of their own in order to pay outstanding bills or taxes.
Additionally, your beneficiaries will not be required to pay any taxes on the money they inherit through your policy, which can be an incredibly important addition.
Is an Orange County Life Insurance Plan Necessary if I am Single?
Although you may have some doubts, the answer to the question is almost always “Yes.”If you are a single person considering taking out a policy, Williams Insurance encourages you to consider the following options:
Disability Income Insurance can be an extremely helpful addition for single persons that are yet to accumulate extensive assets. This policy can help you to supplement a large chunk of your income that would be lost were to have some sort of accident or illness that prevented you from working.
If you are not already insured through your place of work, we recommend taking out a private market Health Insurance plan. This policy will act as your first line of defense against the consistently increasing cost of medical and hospital bills. By providing yourself with Health Insurance you are locking in your low premium costs by selecting a policy with a higher deductible, which is known as “self- insuring.”
Even if you’re currently single and have no dependents, you may end up having some at a later point in your life. If this is your scenario, then now is the best time to purchase Life Insurance, because you are able to “lock in” the lowest cost of coverage now, which include guaranteed insurability.
How Much Should My Orange County Life Insurance Policy Amount To?
Before you decide to purchase a policy, Williams Insurance recommends collecting and reviewing all of your personal financial information, as well as the needs of your family upon your passing. There are many factors that need to be considered when you are deciding how much protection you are going to need. Some of these factors include, but are not limited to:
- Immediate needs at the time of your death
- illness expenses, burial costs, estate taxes
- An appropriate amount of money to transition your family during their readjustment period
- funds dedicated to moving, or to hold your family members while someone is looking for work
- Ongoing financial needs
- monthly bills, cost of day- care, college tuition, retirement funds
Although the most effective means of finding the most appropriate policy for you and your family is to carefully go over your assets and your needs with one of our experienced representatives, we generally recommend that our clients purchase a policy that is equal to 5-7 times their annual gross income.
At Williams Insurance we understand that purchasing a policy can be a difficult and overwhelming process. With over 70 years of experience helping families just like your own, we are dedicated to helping you find the perfect policy for you and your loved ones. Our staff is well versed and knowledgeable in the variety of options available to you, and prepared to help you sort through the available policies and find the one most fitting for you and your family.
Please contact us today at (714) 408-7406 so we can help make sure that you and your loved ones are fully covered with the most comprehensive policy available to you.
Selecting Your Orange County Life Insurance Plan
Purchasing a life insurance policy is far different than any other purchase you will ever make. When you’re making your payment, you’re not paying to insure a cell phone or even your vehicle or your home- you’re paying for the future financial security of your loved ones. Of its many uses, your policy helps to guarantee that after your passing your family is able to protect their home, assets, and has the the income necessary to take care of their household.
Choosing your plan is an extremely important decision, with consequences that have the potential to reverberate out through your family long after your passing. But just like any other purchase, it is important for you to understand the needs of your family, as well as all of the options that are available to ensure those needs are met.
The most prevalent types of policies are known as Term and Permanent.
- Term Policies prove protection for your family for a specific amount of time, or term.
- Permanent Policies are able to provide you and your family with long term, lifelong protection.
If you’re interested in learning more about the Term and Permanent policies that we offer our clients here at Williams Insurance, please click on the the Link, or contact one of our experience professionals at (714) 408-7406 so we can help you find the policy most appropriate for you and your family.
What Happens If I Fail To Make A Payment?
If you miss one of your premium payments the general rule is that you have a 30-31 day grace period where you are permitted to make a late payment. If you fail to make that payment then your policy will lapse. Depending on the provisions of your policy, you may have the option of reinstating depending on the stipulations written into your policy. It is possible to draw from a permanent policy’s cash surrender value in order to keep your policy going, pending that it has sufficient cash value to keep the policy active. This only applies to Permanent Policies because Term Policies have no cash value from which to draw from. In some cases, flexible Premium Policies allow for premiums to be reduced or skipped so as long there is sufficient cash value left in the policy, although this may result in a lower cash value of the overall policy.
Helping You Every Step of the Way
In our 70 years of experience as a professional insurance provider, Williams Insurance has helped thousands of clients find policies for themselves and their families. We understand that the process of finding the right policy can sometimes be a daunting experience, but we’re to help you every step of the way to find the policy that best fits the needs of you and your family, while fitting into your budget.
Selecting the right policy is an important decision, and Williams Insurance wants to be sure you feel comfortable and at ease when you do decide to make your decision. We’re here to help you make sure that your family is taken care of when your time finally comes, and to ensure that the policy you choose is the most beneficial during your family’s time of need.
Please call us today at (714) 408-7406 so we can help you look through your assets and find the policy most fitting for you and your loved ones.