Find the Best Life Insurance Quotes in Lansing, MI

How to choose life insurance in Lansing

Life insurance provides financial security to policyholders and their loved ones. The benefit of these policies can be used as:

• Finances to cover funeral costs
• Funds to replace the policyholder’s income
• Savings to pay for children’s education, mortgages and other debts
• A financial asset that some policies allow you to borrow against

Life insurance policies provide benefits to a person named by the policyholder. This person is typically a spouse or significant other, but benefits can also be awarded to children, siblings, extended family members or close friends.

Types of life insurance available in Lansing

The two most common types of policies in Lansing are term life insurance and whole life insurance. Generally, term life insurance is cheaper but does not have a guaranteed return on investment, and whole life insurance acts as an asset in a balanced financial portfolio. The key features of some of the most common types of life insurance are listed in the chart below.

Common life insurance policies in Lansing

The cost of life insurance in Lansing

The type of policy you choose and the amount of the death benefit will impact the price of your monthly premiums. Other factors that will influence the cost of life insurance are:

• Age
• Medical history
• Family medical
• Alcohol/tobacco use
• Frequent world travel
• Dangerous hobbies or profession
• Driving record

Policies are typically cheapest for young and healthy people because they pose the least risk.

Choosing a life insurance provider in Lansing

Because of the value of life insurance policy, it’s crucial to work with a company you can trust when it’s time to pay benefits. Companies such as MetLife, Prudential Financial, State Farm and New York Life Insurance Group have a long history of stability and offer life insurance policies in Lansing. A few qualities to look for in your potential provider are:

• A stable financial foundation, which you can verify through independent credit report agencies such as Moody’s and A.M. Best
• Positive reviews, especially from those who have had to make claims to receive benefits
• Policies that fit your needs
• Helpful customer service that provides information without pressure

Don’t ignore your instinct when comparing life insurance providers. If you call to get information and the agent lacks the knowledge to answer your questions, tries to pressure you into buying a policy before you’re ready or provides poor customer service, steer clear. Chances are your beneficiaries will encounter the same when they submit a claim in the future.