Life Insurance in Illinois
In Illinois we have laws which require residents to have home, renters and auto insurance in place, but there are no regulations governing life insurance. While many people opt to forgo life insurance, very few people should be going through life without life insurance. Anyone who has dependents; kids, grandchildren, adult children with disabilities, needs a policy on each adult who provides financial support to that child.
One of the most important factors to consider before buying insurance is to decide how much you'll need. If life insurance benefits are invested carefully, they could produce five- to ten-percent returns. This means that you'll want to have a policy that is, at minimum, ten times the amount of your annual income. If you're earning $50,000 a year, you'll want a policy valued at $500,000 or more. Even stay-at-home parents without an earned income need IL life insurance because of the economic value they provide to the family.
Life insurance falls into three main categories: whole life, universal and term life. They both have unique benefits with term life insurance being very affordable, while whole life insurance policies offer coverage until death. One of our Niles, IL, life insurance agents at our insurance agency will be happy to cover the differences of the policies for you, so that you can make an informed decision on which kind is best for your family.
We believe in serving our customers well, and treating them like we'd want to be treated ourselves. We're pleased to serve the Niles, IL, AZ, WI community by offering exceptional customer service and helping you find the most affordable IL life insurance policies which are available.