Studies have shown that majority of people avoid the "life insurance talk" because they don't want to think about death. Most of them believe that they have time to acquire wealth and assets to leave their families when they die at old age. The inevitable reality is that most people die before the "right time." At Soto Insurance Agency, we strive to take care of your family when you are gone regardless of time of death.
Life Insurance Rules and Regulations
In the state of Louisiana, it is important to abide by all regulations and rules when it comes to life insurance. A policy will be paid out upon the death of the insured. The beneficiary will receive the life insurance benefits according to how the policy is tailored. Fraud can lead to steep penalties and possible jail time.
Types of Life Insurance Coverage
Whole Life Insurance
Our whole life insurance coverage is a permanent policy that benefits your loved ones when you die. From the premiums that you pay, we will deliver a specified death benefit. Some of the reasons why you should consider this policy are:
- Unlike assets and cash, free death benefits are not taxed.
- Premiums are relatively affordable but vital for beneficiaries.
- Grows cash value through surrender value and ability to use it in applying for loans.
- You are entitled to get dividend payments.
Term Life Insurance
Our term life insurance is an agreement between you and us to pay a specified amount of money to your beneficiary in case of death during the contract period. The coverage is affordable with low premiums and can last from five to thirty years depending on the agreed period.
If you are located in Louisiana, don't hesitate to visit our offices or give us a call for more information. Soto Insurance Agency remains your long-term caring and reliable partner.