Your life insurance Nashville TN protects you against any loss of income in case you (the insured) pass away. It allows your beneficiary to receive the proceeds of the insurance, safeguarding them from the financial impact of your loss. It is a binding contract between an insurer and the insured where they promise to pay the designated beneficiary a particular sum of money (benefits) upon the demise of the insured, in exchange for an agreed upon premium. Depending on the type of life insurance you acquire, other events like a terminal or critical illness may also trigger payment of the proceeds.
Insurance companies in Nashville and the general market typically charge a premium to be paid by the policyholder either as a lump sum or through regular payment. Most life insurance plans include benefits like funeral expenses and other settlements as stated in the program contract.
Life policies, as insurance plans are also called, are legal and binding contracts, the terms of which describe the coverage and limitations of insured events. They also lay down specific exclusions so that the liability and responsibilities of the provider or insurers can be limited. Some common examples of exclusions include claims relating to fraud, suicide, riots, wars, and civil commotions.
Generally, life insurance Nashville programs fall into two categories including protection and investment policies. Protection policies are designed to provide payments or benefits in the event of a specified incident or occurrence. This payment is usually a lump sum payment, but may also include other benefits. Investment policies, on the other hand, are used to facilitate capital growth through regular or single premiums. Some common forms of this type of policies include universal life, whole life, and variable life insurance programs.
The Jordan Insurance Agency is committed to providing you with the best insurance options in the Tennessee market, whether you are looking for health, dental, or life insurance companies, offering exceptional benefits at the most affordable premiums.include(“inc/sidebar.php”); ?>