Top Life insurance in Lewiston, ME

Why is it important to get life insurance Lewiston?

Life insurance is very important in Lewiston, ME because it can provide financial security to families in the event of an unexpected death. Not only can life insurance replace lost income from a deceased breadwinner, but it can also help families pay off debts, provide education funds for children, and maintain general living standards. With life insurance, family members can maintain the lifestyle they had before the tragedy occurred. In addition, life insurance gives peace of mind to families, knowing that they will be covered in the event of an unexpected death.

What is a policy lapse in life insurance companies in Lewiston?

A policy lapse in life insurance occurs when a policyholder in Lewiston, ME fails to make timely payments on their life insurance policy. Without regular premium payments, the policy will expire, leaving the policyholder without life insurance coverage. Policy lapses can be avoided by understanding the terms of the policy and making payments in a timely fashion, or by renewing the policy before lapsing.

Can I buy more than one life insurance policy Lewiston?

Yes, you certainly can buy more than one life insurance policy. In Lewiston, ME, life insurance policies are available to meet the needs of each individual. Whether you need a policy to cover your own needs or those of family members, having multiple life insurance policies can provide additional financial security for yourself and those you love. Depending on your own situation and budget, there are several options to explore when it comes to choosing life insurance policies that work to protect your family's future.

How can I lower my premiums with life insurance near Lewiston?

In Lewiston, ME, there are several ways you can lower your life insurance premiums. One option is to join a health club – many insurance providers offer discounted rates to customers that participate in regular physical activity. Other ways to lower your premiums include increasing your deductibles, reducing your coverage amount, and taking advantage of any discount opportunities available. You may also be able to reduce your insurance premiums by becoming a nonsmoker, asking for loyalty discounts, and/or consolidating your policies with one provider.

Do I need a medical exam to contact a life insurance company Lewiston?

While a medical exam may be required by some life insurance companies in Lewiston, ME, there are other options available if you’re looking to receive life insurance coverage but don’t wish to have a medical exam. Some companies may offer modified or simplified issue policies that require no medical exam. Additionally, many policy options in Lewiston, ME offer a ‘reasonable Class’ offer, which means you can pay a higher premium to avoid a medical exam.

With typical Lewiston life insurance companies, what happens if my beneficiary predeceases me in Lewiston?

In Lewiston, ME, if your primary beneficiary on your life insurance policy predeceases you, the policy will first be settled according to the named secondary beneficiaries, if there are any. If there are no secondary beneficiaries listed or if there are insufficient funds, then the residual will be handled according to the provisions of the Maine Uniform Probate Code. In this case, the policy and any remaining funds would be allocated among your living descendants, per stirpes, or if none exist, then to your living relatives according to their degree of kinship.

Do life insurance policies near Lewiston have any cash value?

In Lewiston, ME, the answer to whether your life insurance has any cash value depends mainly on the type of policy you have. Whole life insurance is specifically designed to build cash value over time, and you can access these funds if an emergency arises. Other life insurance types usually don't offer cash value, but you may be able to use the death benefit paying out to get some cash in hand. Before purchasing a policy, it is wise to consult with an insurance company and request more information about the types of life insurance available and whether they offer cash value.

What is convertible term life insurance in Lewiston?

A convertible term life insurance policy in Lewiston, ME is a type of policy designed to give you maximum protection, when you purchase coverage for a specific period of time. It has the added benefit of offering lifetime coverage through conversion. With this type of policy, after the end of the original term period, you can convert the policy into a permanent life insurance policy without the need for further medical exams or other qualification criteria, while still keeping the same benefits of the policy you had during the original term period.

Can I get a Lewiston life insurance policy for my children?

Yes, you can get life insurance for your children in Lewiston, ME. Many insurance companies offer various life insurance policies that can be purchased to cover children. These policies typically provide a death benefit in the event of a covered loss to help the family financially should something happen. To find the best policy to meet your needs, you can speak with an insurance agent or online provider to pose any questions and find the best policy for your child and family.

What should I look for in a Lewiston life insurance company?

When selecting a life insurance company in Lewiston, ME, it is important to look for one that provides an excellent level of customer service. Make sure that the agents are experienced and knowledgeable and that the company has a track record of paying out claims promptly. Also, look for a company that offers a variety of coverage and payment options and that has a competitive rate structure. Consider their financial standing to ensure that they have the necessary financial resources to pay out claims if an unforeseen event should occur.