Term Life Insurance in Somersworth, NH

Why is term life insurance Somersworth important?

Term life insurance in Somersworth, NH can provide a family with financial security and peace of mind. Unlike a permanent life insurance policy, it is typically more cost-effective and can provide a family with protection during a specific term or period of time. Term life insurance can provide financial protection to cover funeral expenses, pay off debts, as well as to replace lost household income. If something were to happen to you, your family would not be left without the vital income generated by your job.

How do I switch from term life insurance quotes in Somersworth to whole life?

If you live in Somersworth, NH and you are considering switching from term to whole life insurance, the best first step is to speak with an insurance agent. At Sarber Insurance, located in Somersworth, their team of professional agents can assist you in evaluating your needs and finding the best coverage options for you. Depending on your specific circumstances, they can review your current policies and help you to make the switch from term to whole life insurance. It is important to make sure that you are accurately insured for your specific needs and that the coverage is suitable for your needs.

Are there age limits for a term life insurance policy Somersworth?

Yes, there are age restrictions for buying term life insurance in Somersworth, NH. Generally, the minimum age to purchase a term life insurance policy is 18-20 years old, depending on the specific policy. Additionally, most policies have a maximum age of 65, however, some companies will offer coverage up to age 75. It is important to speak with a certified insurance agent in your area to determine which options are available to you.

Can I get a premium refund if I cancel my term life insurance near Somersworth?

If you purchased your Term Life Insurance policy in Somersworth, NH, you can get a refund if you cancel your policy before the term expires. The amount of the refund depends upon a few factors, including how long you have been paying into the policy and how much the policy cost. Generally, the refund amount is pro-rated according to the time remaining on the policy. Our agents at our Somersworth, NH branch can provide you with specific information about the refund you may be eligible to receive.

Can smokers get a term life insurance quote Somersworth?

Yes, in Somersworth, NH you can still get term life insurance if you are a smoker. Life insurance companies typically classify smokers as anyone who has used tobacco products in the last 12 months, so it's important to consider that in your search for a policy. Depending on your individual circumstances, it may be more expensive to buy a term life insurance policy while smoking than if you did not smoke. However, that doesn't mean that it is impossible to get term life insurance while you are a smoker.

What will Somersworth term life insurance companies do if my beneficiary dies?

If your designated beneficiary in Somersworth, NH passes away before you, you can adhere to the rules of your life insurance policy to make any necessary adjustments to your funds. Depending on the details of the policy, you may be able to make a change in writing, or you may need to submit a new beneficiary form. Generally speaking, it's best to contact the issuing insurance company as soon as possible to provide updated information and ensure that your assets will be passed to the intended party.

Are death benefits from term life insurance policies near Somersworth taxable?

Generally speaking, if you receive death benefits from a life insurance policy, Social Security survivor benefits, or a veteran's death pension, they are not taxable under federal income law. Additionally, in the state of New Hampshire, life, accident, endowment, and annuity insurance proceeds are also not subject to tax. This holds true for residents of Somersworth, NH. While the payer of the death benefit must typically file a return with the IRS, the recipient who is typically a family member, does not have to include the proceeds on their own personal income tax report.

What riders are available for term life insurance in Somersworth?

In Somersworth, NH, you can add additional riders to a term life insurance policy to personalize your policy and meet your specific needs. Depending on the insurance company you choose, you might be able to add riders associated with long-term care, waiver of premium, accidental death, child or spousal policy, critical illness coverage and more. It is important to speak with a life insurance specialist to determine which riders are associated with your plan and which ones could benefit you.

Can I get a Somersworth term life insurance policy for my family?

Absolutely! In Somersworth, NH, you can purchase term life insurance for family members. The benefits of a term life insurance policy include financial security, affordable premiums, and coverage that decreases over time. Plus, with a term life insurance policy for family members, you can add optional riders to your policy for increased coverage. You can also customize your insurance plan to fit the needs of your family members. To get started, contact a trusted representative in the Somerseworth, NH, area to discuss your options.

What's the 'free look' period with a Somersworth term life insurance company?

A free look period in term life insurance typically refers to the amount of time a customer is given to review their policy after purchase. In Somersworth, NH, most life insurance providers offer a 30-day free look period. During this time, customers can review the policy completely free of charge and determine if the policy meets their needs. If the customer decides to cancel the policy, the life insurance provider must return any premiums paid. It's important for customers to take advantage of this free look period, as it ensures they have the right policy for their financial situation.