Bravo Agency thanks you for your trust and successful cooperation and announces that now we are doing Life Insurance! Now we can help you protect yourself and your loved ones, we cooperate with companies such as Mass Mutual, NY Life, Cincinnati Life, Nationwide, Penn Mutual, about 20 companies in total. We are always happy to provide qualified assistance and give professional advice, call or write messages if you need advice. Get a quote today!
Life insurance is a contract between you and an insurance company that promises a monetary payout, commonly called a death benefit, to designated beneficiaries — typically family members — after you pass away. As long as you’ve paid your premiums and the policy is active upon your death, the death benefit will be paid out.
How life insurance works
In order to obtain life insurance, you must qualify by submitting an initial application. The process typically includes a phone screening and a medical examination to determine your health status, including any chronic or pre-existing conditions. Your health information is a major contributing factor to your life insurance premium. Once you finalize how much life insurance you need and your rate, you must keep paying your premium to keep the coverage in place.
After you pass away, your beneficiary must file a claim with the life insurance company and submit relevant documentation, such as a death certificate. The beneficiary may choose how the death benefit will be paid out to them — either via lump sum or annual payments. Each life insurance payment option is paid out tax-free.
What does life insurance cover?
Most causes of death are covered by life insurance, including natural causes, accidents, and illness. There may be stipulations around suicide, however, and life insurance may consider it exempt from coverage within the first number of years of having the policy. Fraud is the most common reason for denial of life insurance claims, and life insurance companies can also deny coverage in cases where a beneficiary murders the policyholder.
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