Tag: life insurance

One of the most important financial decisions you can make is ensuring your family is provided for in the event of your passing. Many people find that purchasing life insurance is the best way to achieve this. If you live near Las Vegas, NV, our team at Red Rock Insurance is here to help you explore how life insurance can support your family after you’re gone. Since 2006, we’ve been assisting clients like you with their insurance needs.

Should You Buy Life Insurance for Your Children?

Most people focus on life insurance for themselves and their spouses, but it may also be worthwhile to consider a policy for your child. According to NerdWallet, purchasing life insurance for a child is often done in families that rely on the child’s income. For example, if your child is an actor or performer, their untimely passing could result in a financial setback for the family due to the loss of income.

NerdWallet also notes that when your child becomes an adult, they may have the option to convert the policy into one for themselves by taking over the premium payments. Additionally, a child insurance policy can be particularly beneficial for children with chronic health conditions, as they may face challenges qualifying for life insurance as adults.

Call Us Today for Your Appointment

Our team at Red Rock Insurance is here to help you understand the different types of life insurance and how they can meet your needs. Clients in the Las Vegas, NV, area trust us for expert insurance advice and exceptional customer service. Call us today to schedule an appointment, and let’s discuss how life insurance can benefit you and your family.

Understanding Whole Life and Term Life Policies in Las Vegas, NV

Whole life and term life policies are the two main types of life insurance. Both pay a death benefit to the policyholder’s beneficiaries upon their passing, but many other details about these policies differ. If you have dependents, it’s essential to have a life insurance policy. To get started with one, contact us at Red Rock Insurance in Las Vegas, NV.

Expiration Dates

One of the significant differences between these two types of policies is their expiration dates. A term life policy is active for a set number of years. Once the policy’s end date passes, it expires. This means that if you outlive the expiration date of a term life policy, you may need to get a new policy. On the other hand, whole life policies do not expire. They are valid for your entire life, hence the name.

Cash Value

Another difference is that whole life policies build a cash value. As the years pass, this amount grows, creating a large pool of money that you can access if needed. Term life policies do not build a cash value. However, they are often more affordable than whole life policies, making them a suitable choice for those on a budget.

Get Life Insurance in Las Vegas!

Regardless of which type is right for you, life insurance is crucial. If you’re not yet covered by a policy, contact us at Red Rock Insurance in Las Vegas, NV, to find out more.