There are several times when you should consider re-evaluating your life insurance policy. Getting married, welcoming a new family member or changing jobs are all times when re-evaluating your life insurance needs could be beneficial. Buying a new home or opening a new line of credit, such as a credit card or car loan are also valid reasons to look over your old policy. 

Life insurance is designed to pay for your family’s expenses if something were to happen that would cause them to lose the benefit of having your income. It is important to have a policy large enough to pay off any loans that may be open as well as your family’s living expenses for at least one year. Your final expenses should also be covered. 

When a loved one passes away, the stress of their loss will often overshadow their financial needs. By talking to a qualified insurance agent, you will be able to review your life insurance policy and make sure that you have a large enough policy to meet and exceed your family’s financial needs. You don’t have to wait for a change in the size of your family or if you make a new purchase. You may want to consider having your policy reviewed every two or three years to make sure you are adequately covered.

The residents of Dunmore, PA, can turn to the agents of Rodgers-Olver-Polley Inc. to have all of their life insurance questions answered. Knowing when to re-evaluate your life insurance needs can be tricky. Talking to a licensed insurance agent will give you the information you need to make a knowledgeable choice. It will also help you protect your family if they are faced with covering their expenses without your income.

Having good life insurance not only means financial protection for your family is something should happen to you, but it can also make you feel much safer and more settled in the lovely community of Dunmore, PA. There is no reason to worry about future financial issues your family could face when you have the right insurance policy. Still, it’s crucial to make sure the policy you have is the best one for you, and that it will cover everything you want it to. If you are not sure about the policy you have, or you don’t have one at all, an agent can help you get what you need.

When you consider how much life insurance you should have, focus on the amount of money you would want to leave to your family along with the ages of your children and the kinds of expenses they may face in the future. Going off to college, for example, can be very costly. That may be something you want to be sure to provide for with a life insurance policy, in case something was to happen to you. Another significant cost for the future could be a loved one who is disabled or one who has a chronic or debilitating disease or condition.

Choosing to work with Rodgers-Olver-Polley Inc. means peace of mind and a great agent who can help you get the Dunmore, PA life insurance policy you need. You can talk to a knowledgeable agent who can help you decide on the best policy for your needs. It is not just about the amount of the policy, but also about the strength of the company behind it if your family needs to use that policy in the future.

When you are shopping for a life insurance policy, it is important to know about some of the myths so that you don’t fall for them. After all, if you are going to spend money on a life insurance premium, you want to make sure that the benefits are there to provide financial protection for your family.

Bad Health is a Deal Breaker

Many people have bad health and life insurance. They aren’t mutually exclusive. You simply need to know that if you are in poor health, life insurance may cost you more and the coverage levels may be lower than if you were in good health.

Life Insurance is Only Good Up to a Certain Point

Life insurance is good for as long as you determine when you get the policy. Term life is only good up to a certain point because you determine how long the term is – ranging from 5 to 30 years. Whole and universal can provide protection for your entire life.

Employer-Provided Policies are Plenty

Employer-provided policies are generally term policies. Additionally, the amount of coverage may only be one or two times your annual salary, thus not providing the value you desire for your family.

The Real Deals are Online

Some people have gotten deals purchasing life insurance online. However, it is difficult to understand what you are getting and whether you are getting a great deal. The better alternative is to work with a life insurance agent and get quotes from multiple companies in order to compare.

The Rodgers-Olver-Polley Inc. is here to help you find a life insurance policy that makes sense for you and your family. Call to speak to an agent today to learn about options as well as receive quotes from companies who issue policies in Pennsylvania.

It has been exciting to witness the revival of Scranton, Pennsylvania in the past couple of decades. The Scranton Electric Building, Courthouse Square, and the construction of downtown’s Hilton Resorts and Conference Center are just a few of the projects that make us glad to be a local agency providing insurance quotes in the city.

One of the most frequently asked questions is “What type of life insurance is best for me?” While there are many ways to purchase life insurance, there are really just two different types. There is whole life insurance and then there’s term life insurance.

Whole life insurance can cover you for your entire life and generally builds up cash value the longer you keep it. It is more expensive than term insurance, but again, you are maintaining value in the policy. Quotes for similar coverage will be less expensive for term insurance, however term only covers you for a set period of years or the “term” of the policy. It has no cash value except in the event of the death of the insured. Term life insurance is a way for young families to get a lot of coverage at an affordable price.

There are also combinations of these products that may suit your particular situation in life. If you are considering life insurance, we hope you will get quotes from a local agency who knows the ins and outs of life insurance. We invite you to contact us.

We also are pleased to offer comparative quotes right online for those looking to save on their homeowners and auto insurance policies. You can see quotes from several companies within minutes of filling out our online form. Call, or get an online quote today. We are proud to serve the Scranton area and would be pleased to serve you.

When you buy a life insurance policy in Dunmore, PA, the premiums that you pay are not usually returned if you cancel the policy. Even though you may not be able to get your premiums back, there may be situations that allow you to get some funds returned from your policy.

Term-Life Plans

A term-life policy will not usually return any of the funds that you have paid because it is designed to provide coverage for a set amount of time and you are not putting aside any funds for investments.

While some insurers may return over-paid premiums, you should not expect a large check. For example, if your policy is paid for the entire year and you cancel the plan after six or seven months, then your insurer may return the premium for the additional months that you are not covered. The details regarding any funds that may be returned on a term-life plan can vary, so you will need to review your policy to identify your options.

Whole-Life Plans

A whole-life plan is designed to carry forward for your entire life as long as you maintain it and pay the premiums. Canceling the policy may result in some returned funds for the cash value that you have built up in your account. While the premiums are not returned, the portion that was set aside for investing may be returned. The exact amount will vary based on the rate of growth and the amount of money that you paid into the investment side. Keep in mind that you may be required to pay taxes on any funds that were invested.

Life insurance is important, but there are times when you may need to stop your coverage. Contact us to speak to an agent for more details.

When you are thinking about purchasing life insurance, you usually have a specific reason why you want to buy a policy. You may want to protect your family in case you die in an accident. You may want to use a policy as a way to save some money for retirement. Generally, you can buy a life insurance policy that builds cash value over time or you can buy one that only provides insurance coverage for a specific period of time.

Focusing on the latter case, where your entire premium is allocated toward insurance, you may want to consider a term life insurance policy because it has certain advantages over a regular life insurance policy. Those advantages may include a lower premium that remains the same for the length of the policy, the ability to purchase more coverage for your money, and the ability to be insured for the specific period of time you want to cover a given risk.

A term life insurance policy is written for a specific period of time. For instance, you may have a policy that will cover you for the next 10, 15, or 20 years. Among other things, the premium is based on your age, health, and whether or not you smoke at the time you apply for a policy. The advantage is that if you only want to have insurance while your kids are growing up, you don’t have o buy a policy that will last for your whole life and cost you much more money.

A second advantage is that you can purchase a high amount of coverage for a relatively small monthly premium. In addition, your premium will stay the same as long as the policy is in force.Your premium does not adjust upward as you get into the latter years of your policy or if you should be diagnosed with a terminal disease.

If you want affordable life insurance in its purest form, term life may be the best type of life insurance to buy.

Many people are confused by the life insurance options and as a result decide to do nothing. It seems that just ignoring the issue is easier than wading through the information to decide which policy is best for you and your family.

However life insurance is very important, especially when you have dependents that rely on your income. If you pass on, your partner will have to not only get through the grief, but also care for and support the children on their own salary. If your family’s budget is set up to require two incomes, you really cannot afford to be without life insurance.

For many families with young children, a basic term life policy that’s good for 20 or 30 years will be sufficient. It’s inexpensive and it will be in effect until the children are grown and out living on their own. Most young families have mortgages, car payments and kids’ activity fees, so having low premiums is a great feature. Once the term is over, you won’t have any coverage, but you will likely be at a point where you have built up your own savings, have increased your income and no longer have child-related expenses, so you won’t need the money a life insurance policy will provide.

Whole life policies are great for people who are older and will need the certainty of a payout upon death. If you’re already near retirement but don’t have sufficient savings or if you have a disabled adult child who depends on you for financial support, a whole life policy, with all the bells and whistles, is probably your best option since you will be covered until you pass on.

Residents of Honesdale, Dunmore and Milford, Pennsylvania who are interested in buying life insurance can contact us for more information. An independent agent will explain how life insurance works and answer your questions so you can make an informed decision before you purchase your policy.

If you live and work in Honesdale, Pennsylvania, then you may want to look at life insurance policies within the local area. The concern that may arise is whether you are covered when you are not a citizen of the state or country. When you are not citizen of the state, it does not mean you do not have options available.

Visas to Work

A work visa, a Green Card or a living visa will allow you to obtain appropriate insurance within the state, even if you are not a citizen. If you come from a different country and you have an appropriate work visa, it means that you are legally allowed to live and work within the country. As a result, you can also obtain appropriate insurance to protect your loved ones in case something happens and you are no longer providing for their needs.

Changing Residency

If you are a citizen of the country, then you can always obtain coverage. The details of coverage may vary based on your situation, but it is not necessary to wait several months until the state considers you a resident of the town before you apply for coverage.

Changing residency will mean that you are claiming to be a citizen of the city and state, even if you have recently moved and are not considered a resident on your tax documentation. In that situation, you can apply for life insurance. The insurer will want to know a few details, such as where you work, but you will not need to worry about providing additional documentation.

It is not necessary to be a citizen to qualify for insurance. If you have the appropriate documentation to prove that you are legally living in the country, then you can obtain coverage. Contact us to talk to an independent agent to learn more about your coverage options.

Life insurance is a pretty straightforward topic when one is in good health and is not expected to die prematurely due to health-related causes. However for those who have had cancer or are diagnosed with cancer, the policy details can vary widely between insurance providers.

When a policy holder passes away due to cancer, the length of time of which the person has had the policy will be taken into consideration before a payout amount can be determined. In many cases, companies will not pre pay the full amount of the policy before the patient’s death. Of course this changes from company to company, so it’s best to talk to your independent agent in order to find out which companies will pre pay the full amount of the policy in cases of terminal cancer.

It’s always best to get life insurance before its too late, so that if you are diagnosed with a disease like cancer, you already have a policy in place and have the best chance of getting a full payout. In many situations, the policy can be contested by the insurance company within two years of purchase. Once a person is diagnosed with a terminal disease, finding a life insurance policy that is affordable is a rather difficult task, though it is often possible. Your local independent agent can help you run a comparison search for various life insurance policies so that you can be covered as soon as possible.

If you’re in Honesdale, Pennsylvania, contact us today so we can help you understand the different types of life insurance policies that are available to you, decide on the appropriate amount of coverage and find an affordable life insurance policy.