Life Insurance. You sign a contract, pay a premium every month, and when you die you get a payout, right? This is certainly one of the major benefits that life insurance offers: making sure your family is taken care of after you are gone. However, this is not the only kind of life insurance policy that is available to you, your family, or your business.

Nobody ever knows when disaster will strike. It is not pleasant to think about, but it is a good idea to be prepared. No matter who you are, chances are that life insurance is a good idea to help you get out in front of anything that life may throw your way. At Derby Insurance Solutions, we will help walk you through your options and help you understand your policy. We will make sure you find a plan that is best for you and your family.

Who Needs Life Insurance

Life insurance is a great idea no matter your stage of life. Parents with young children, elderly parents, wealthy families, those with little, and even single, young adults can benefit from a life insurance policy. For example, young adults are able to lock in low rates on life insurance premiums. Those with children often purchase health insurance to provide protection against any financial hardship that may occur in case of death. Wealthy families are able to use life insurance to cover any estate taxes that need to be paid. No matter your situation, life insurance could be a good option for you.

Life insurance can also help to cover funeral expenses for those who cannot afford it. While this list is extensive, it does not end here.

Life insurance can also be a great option for businesses. If you own a business, life insurance can help your successors have exactly what they need to keep the business going in the event of a terminal illness or passing. Additionally, having an attractive life insurance policy can go a long way in attracting talent to your business and retaining current key employees.

Life insurance with Living Benefits

Life insurance with living benefits can make life easier for you and your family while you are still around. Essentially, you pay your monthly premium and if you end up with a terminal illness, chronic illness, or critical illness, you begin receiving benefits paid out by your insurance company.

Experiencing any sort of illness is a tragedy and can be extremely difficult for you, your family, and your friends. While living benefits do not help with the emotional trauma of seeing a loved one struggle, they can make sure your family stays on its feet financially. Medical bills can add up quickly and having life insurance with living benefits can help you stay out of debt. Having an illness is hard enough, and life insurance with living benefits can take away the financial stress to allow you to focus on enjoying your time with your family and getting better.

How It Works

Living benefits work differently and pay differently depending on the policy you have and the illness or medical hardship that befalls you.

Terminal Illness: In the event of a terminal illness that results in a life expectancy of fewer than 12 months, your life insurance policy will pay out a lump-sum benefit. This money can be used for medical expenses, final expenses, or for any other purpose you believe is necessary.

Chronic Illness: This living benefit pays out a monthly benefit should you become chronically ill. This is typically defined as having an illness that prevents you from performing two daily activities such as dressing, eating, or bathing. This benefit is paid directly to you.

Critical Illness: In the event of a critical illness such as a heart attack, ALS, cancer, or stroke, you will receive a lump-sum benefit paid out to you to help cover any expenses you deem necessary.

As always, Derby Insurance Solutions will be with you every step of the way, helping you make sense of policies, payouts, or answering any other concerns you may have along the way. Purchasing life insurance is a weighty decision, and we want to make that process a little bit easier.


Derby Insurance Solutions

Purchasing the right life insurance policy is no small decision. It is an investment in your financial future, the future of your health, and your family’s future. There shouldn’t be any guesswork with a decision this big. Derby Insurance Solutions offers guidance and life insurance policies that will meet your needs. Our experts are standing by to answer any and all questions you have. No matter where you are in life, Derby Insurance Solutions can help.

Here at Derby Insurance Solutions, we carry many of the top life insurance plans on the market today! We are able to help you find a quality, affordable life insurance plan that suits the needs of you, your family, and/or your business. Whether you are looking for a new life insurance policy, are looking for your first life insurance policy, or simply have questions about life insurance, we can help. Just give us a call at 918-451-9783 or fill out our contact form and receive a free life insurance quote!

In addition to providing life insurance, we can also help you with health insurance, Medicare supplements, accident insurance, retirement solutions, and Native American Benefits.