It May Be Time To Start Thinking About Your Life Insurance Policy

So the creative juices aren’t quite flowing as well as I’d like today; maybe it’s the post-lunch nap that I force myself to skip each day that’s catching up to me, maybe it’s that Thursday “hey the week is over halfway over” moment that can sometimes captivates my attention more than I’d like, or maybe I’ve just ran out of ideas – I don’t know! Let’s just hope it’s because I didn’t post anything yesterday and I’m feeling a bit frantic. I mean, it’s quantity over quality, right? Or something like that…

Anyway, as my focus has been skipping and dancing freely through the open pasture that is my mind, I somehow ended up in this hazy area of the brain where fact and philosophical thought create this amorphous landscape that usually remains off limits during work. However, I disregarded the “no trespassing” sign and walked right in, and soon began floating around the cluttered matrix of ambiguous thought where complicated things like “trying to define the meaning of life” live. I think this might be where headaches are born? Anyway, as I attempted to retrace my steps and return to consciousness, “life” was still on my mind everywhere I went. And in a feeble attempt to tie this all together into a relevant blog post, below is a guide of how to break down some Washington life insurance basics.

In regards to Washington and Oregon Life Insurance policies:

Term Life Insurance:

• Coverage for a “term” or period of your life.
• Lower premiums for higher coverage.
• Rates can change after specific terms expire.
• No equity - cannot be used as cash value.

Whole Life Insurance:

• Exactly like it says - permanent, not for a specific period.
• Protection carries with you your whole life.
• Can build equity and have cash value.
• Higher premiums than term life, but can be more valuable in the long run.

Term and Whole Life:

• Build lifelong base of whole live coverage.
• Supplement specific times of your life with term insurance

Keep in mind that at Bell-Anderson we’re experts at this kind of stuff, so don’t hesitate to give one of us a call today if you have any questions!