Life insurance is something that everyone should have but few people know a lot about. If you have questions about life insurance, you have plenty of company. At The Merhar Agency LLC in Willoughby, OH, we are locally owned by three generations of the same family. We have been serving our community for more than 65 years with dedicated service and as independent insurance agents, we can bring you a variety of insurance carriers.
Life Insurance FAQs
What is term life insurance?
Term life insurance is coverage that has a term. It is usually between 5 and 30 years. At the end of the term, there is no cash value and coverage ends.
Buying life insurance, is there a right time?
Life insurance is less expensive when you are young and healthy, but you may not need a great deal at that time. You need the insurance to be in effect when you need it most.
How much life insurance do you need?
Each person has different needs for life insurance. The basic premise is that you are providing your dependents with the equivalent of your income. How much your income is and how long you need to provide it is decided by your particular situation. When you have young children, you may require to provide several years of income.
How do you collect on life insurance?
As soon as someone who is insured passes away, you notify the insurance company either online or on the phone. They will need you to provide the death certificate. In most cases, it is a simple process to provide the necessary verification and payment will occur within a couple of weeks.
Give Us A Call
Contact The Merhar Agency LLC in Willoughby, OH if you are interested in learning more about life insurance and what it can do for you.