Life insurance FAQs

Life insurance is something that many people talk about, but few people understand. You know what and why you want it, but there is more to choosing life insurance than just the death benefit. There is what kind of insurance to have and how much. At Ruddy Insurance Group in Niles, OH, we get to know our customers to suggest better the type and amount of life insurance that is right for them. 

Do you need to get a doctor’s exam to get a life insurance policy?

That is a tricky question. The answer is no, there will always be some policies you can get without a physical, but it is not necessarily in your best interest to get those policies. They will be more expensive. 

Can your life insurance be canceled?

Yes, it can. The most common reason for cancelation is nonpayment. If you plan to keep your policy, you might want to ensure it is on autopay. Your policy may also be canceled if it is discovered that you were not truthful in your application. This can be about whether you are a smoker, have ever been a smoker, or have a preexisting condition. 

How long of a term does term insurance have? 

Typically, term life insurance will last from 10 to 30 years. The premium will remain the same for the entire term of the policy, and when the 30 years are up, you will have no accumulated cash value. What you are paying for with term-life policies is the death benefit. You may be able to renew the policy a year at a time, but the premium will increase as you age, sometimes quite dramatically. 

Contact Ruddy Insurance Group in Niles, OH with any questions about life insurance. 

Who Needs Life Insurance in Niles, OH?

Life insurance isn’t the prettiest topic, but it is something that you can’t escape if you want to plan your future. Life insurance protects your loved ones and gives you the peace of mind that the people you leave behind won’t suffer financially when you are long gone.

No one likes to think about their death, but the last thing you would want is to leave your loved ones exposed when you die. So, who needs life insurance? While not everyone needs life insurance, Ruddy Insurance Group in Niles, OH, explains who needs life insurance.

If you have dependents

If you have children or a spouse, you need life insurance to ensure that they don’t lack financially when you die. Life insurance covers the gap left should something happen to you.

If you have debts

Your mortgage and car loan won’t disappear because you are dead. Instead, you will leave the financial burden with family members and cosigners. The good news is that you can invest in life insurance, and the proceeds can be used to pay off your outstanding loans.

If you are single and happy

This might surprise you, but yes, you need life insurance even if you are single. Why? You might not have a spouse or children but have other responsibilities. For instance, if you have aging parents or debts, you need life insurance to cushion your interests when you are long gone.

And that’s not all. Your singlehood isn’t for a lifetime. Down the road, your situation might change, and you better invest in life insurance now that you are young and healthy.

Buy life insurance today!

Are you ready to invest in life insurance? Getting coverage is easy. All you need to do is get in touch with Ruddy Insurance Group in Niles, OH. We will offer you a life insurance plan that suits your unique needs.

5 Benefits Of Whole Life Insurance Policies

Ruddy Insurance Group provides coverage to the Niles OH community. Our primary goal is to make sure that our clients are protected in any situation. We are passionate about helping people. We will analyze your personal situation and help you find the right policy for your individual needs.

5 Benefits Of Whole Life Insurance Policies

While you may be enjoying a comfortable life in Niles, OH, you should consider the future. Take time to think about the future of your assets and how you’d like things to be handled when you’re gone. Consider the benefits of life insurance. Life insurance covers your assets and helps make sure that your loved ones have a foundation to lean on after you have passed away. One of the more common policies is whole life insurance. Whole life insurance provides coverage throughout your entire lifetime. Here is a look at the 5 benefits of whole life insurance.

Fixed Coverage

Whole life policies provide fixed coverage. This should give you peace of mind as you age. You have the security that things will be in place.

Your Assets Are Protected

Your assets are protected under the terms of the policy. Whole life coverage also allows your loved ones to receive access to your assets in a timely manner.

Potential Growth

Whole life insurance allows your assets to accumulate growth over the course of the policy. This can be beneficial in a few years.

Help With The Burial Process

One of the most uncomfortable things regarding your passing is the burial process. Your loved ones can use the policy to help cover the burial process.

Comfortable Lifestyle

Whole life insurance can help your loved ones enjoy some comfort as they deal with your passing. Your assets can be used to help operate a business or send your children to college.

Ruddy Insurance Group Will Protect Your Assets

Visit our website to learn more information about life insurance.

What type of life insurance is right for me?

In the Niles, OH area, the average person will have a lot of different insurance needs. One form of insurance that continues to be very valuable for anyone here is life insurance. If you are in the market for life insurance, there are several forms of coverage to consider. It is important to consider the advantages of both term and whole life coverage, which continue to be among the most popular forms of life insurance.

Term Life Insurance

One of the most common forms of life insurance continues to be term life insurance. When you get into a term life insurance policy, you are able to build a policy that meets your individual needs. This will include providing you with coverage for a specific period of time and for the amount of life insurance that you need to protect the beneficiaries. For a lot of people, this also tends to be a more affordable option when compared to other types of insurance. 

Whole Life Insurance

Another popular life insurance option is to get whole life insurance. When you choose a whole life policy, you can keep the coverage for as long as you want as there are no term limitations. While the monthly payments tend to be higher, some of your premium payments will build in an account that will grow with interest. In the future, you could then liquidate this account. Many use this form of insurance as a conservative investment option as well. 

When you are looking for a new life insurance policy in the Niles, OH area it is important that you receive some guidance and support from someone that you can trust. The team at the Ruddy Insurance Group could be a great source of information for you. When you call Ruddy Insurance Group they can answer your questions and help you find the best policy for your situation. 

Do Young Couples Need Life Insurance?

Although many would prefer to avoid discussing life insurance, it is a vital tool to help protect those who are most important. A misconception that many have is that if you are a young couple, life insurance may not be beneficial. This is actually untrue, and having the right type of life insurance in place could lessen the impact should you pass unexpectedly. 

Protecting the Future

Life insurance is all about protecting those who are important in the event of your untimely passing. This can mean a solid layer of protection and support to those loved ones you leave behind and reduce the burden from any impacts that result directly after and in the future. To discover what types of insurance policy would work best for a situation, work with a licensed life insurance agent, and begin protecting those you care about.

Working With a Life Insurance Agent

Life insurance agents are trained to help clients identify current and future needs and cover those needs with a life insurance policy that is high quality and dependable. If you live near the Youngstown or Niles, OH area, you can count on the agents at Ruddy Insurance Group to walk you through the process and help you get the coverage you and your loved ones can depend on during a difficult time. Additionally, we can walk you through the entire process and assist beneficiaries with any future claims.  

Protect those who are most important by purchasing quality life insurance products. If you are a resident of the Youngstown or Niles, OH area and have questions about life insurance, call or stop by the office of Ruddy Insurance Group and speak with one of their skilled agents today.

3 Tips for Buying Life Insurance in Ohio

Life insurance is something that everyone should have. Why? Because this policy will help take care of things after you pass. For example, your burial expenses and debts can be paid; your family can have extra income to help them financially; and the money can even be used to pay for your kid’s college tuition, wedding, or whatever is needed. If you don’t already have a life insurance policy in Niles, OH, you’re thinking about acquiring a new one, or you want to add to an existing one, here are three tips to help you choose the right policy and save money in the process.

1. Work with a Reputable Agent

To guarantee you purchase the right life insurance policy for you or another family member, work with a reputable agent who will help guide you through the process and help you make an informed decision. The agents at Ruddy Insurance Group are standing by to answer all your questions and concerns about this type of policy.

2. Compare Several Quotes

A reputable agent will help you compare several life insurance quotes from different insurance companies. They will go over the fine detail of each to make sure you understand what each policy offers and at what price.

3. Bundle Your Insurance Policies

Did you know you can bundle your life insurance policy with other insurance policies to save money on your premiums? It’s true, and a reputable agent will help you maximize these savings.

To learn more about life insurance, contact the team at Ruddy Insurance Group, serving the Niles, OH area today. Our team will help you find the right policy at a price within your budget.

 

Do You Have Adequate Life Insurance to Protect Your Family’s Future?

Many of our clients in the greater Niles, OH area add life insurance to their portfolio when they are married or begin their families. However, it is important that these policies are reviewed on a regular basis to ensure that your life insurance is keeping pace with your life stage changes. Ruddy Insurance Group is here to help you navigate this process in a smooth manner that keeps your family protected while minimizing your stress level; we are here for you!

Life Insurance Needs Change as You Progress Through Various Life Stages

When you have young children, you likely consider life insurance as a protective measure in the event of the early death of your self or your spouse. When your children grow older, you may look at your whole life or universal policy as a means to help your children reach their educational goals. As your family ages, your needs will change. Whatever type of life insurance policy that you hold, it is always a smart idea to review the coverage daily.

Life insurance is a useful insurance and financial tool, and your local agent can help you to maximize the benefits of your policy. Not only can they help you acquire adequate coverage and protection, but they can also help you to gain the highest benefit from your policy over time. Make sure that your family has the safety net they need, while also adding another tool to your overall financial portfolio.

Is it time to review your life insurance policy for completeness? The team at Ruddy Insurance Group is here to help! If you are in the greater Niles, OH area, call or stop by our office today and meet with one of our friendly agents.