Life Insurance

Protect What Matters Most.

Life insurance can help your family avoid financial hardship after you pass away. Whether they depend on your salary, the services you provide (e.g., child care) or are simply unable to pay the costs associated with your death (e.g., burial expenses, estate taxes), a life insurance policy can help provide for them. 

Contact Driscoll & Driscoll in Palmdale, California, for a life insurance quote today.  

What Is Life Insurance? 
A life insurance policy binds your insurer to pay your beneficiaries a lump sum—known as a death benefit—when you die. It can provide financial security for your loved ones and can even allow you to leave an inheritance to pass down.  

What Does Life Insurance Cover? 
While individual policies may vary, the death benefit provided by life insurance policies may provide the following coverages: 

• Lost income—Life insurance payouts can support those who depend on your annual salary for financial support (e.g., children, spouse).
• Estate taxes—Life insurance policies may be used to help cover expenses from the transfer of your estate.
• Final expenses—Life insurance benefits can pay for costs associated with your estate administration, funeral and burial. 

Who Needs Life Insurance? 
Life insurance is not required, but many people buy it to provide financial security for their loved ones. This security may be particularly beneficial if you have loans, a mortgage or other debts that could fall to your family after you die. If you own your own business, have a newborn child or a spouse who depends on you economically, you may also decide life insurance is worth the cost.  

Call Driscoll & Driscoll to speak to a life insurance agent today. 

How Does Life Insurance Work? 
Your life insurance company will consider numerous factors to determine the cost of your life insurance (e.g., gender, age, lifestyle). You may need a medical examination when applying for life insurance. As long as you pay your premiums, your life insurance company will provide a death benefit to your beneficiaries if you pass away during your policy term. The duration of your life insurance policy will depend on the type of life insurance you choose. 

Types of Life Insurance 
There are two primary types of life insurance coverage for you to consider. 

• Permanent life insurance (e.g., universal life insurance, whole life insurance) generally covers you for your entire life. Some types of permanent life insurance may offer a level premium, meaning your insurance will cost the same throughout your life, even when you are older and need more coverage. Permanent life insurance may also accrue cash value, allowing you to borrow against your life insurance policy, withdraw money from it or use it to make future premium payments.
• Term life insurance covers you for a set amount of time, known as a term (e.g., 15 or 30 years) and may also offer a level premium. Generally, term insurance is less expensive than permanent life insurance, but it will only provide a death benefit if you die during the agreed-on term.  

We’re here to help you find the right life insurance policy for your needs. Contact Driscoll & Driscoll to learn more about our coverage solutions. 

How Do I Get Life Insurance? 
At Driscoll & Driscoll we understand that your family’s future is your top priority. Call us today to learn more about how our life insurance coverage can ensure they are provided for after you are gone.