Proudly Serving Grafton, Westboro, Shrewsbury, Whitinsville, Southborough, Northbridge, Uxbridge, and Millbury

 

Planning for your financial future, including what happens after your death, is an essential task—especially if you have loved ones who depend on you. When you think about your death, you might want to consider the financial safety a life insurance policy can help provide.  

Gaudette Insurance Agency has provided our Massachusetts neighbors peace of mind since 1926. We can help you with a life insurance policy that meets your needs and gives you the same sense of security. 

What Is Life Insurance?  

Life insurance is a type of insurance policy that pays a designated sum of money, called a death benefit, to whomever you’ve listed as a beneficiary on your policy. Like many other types of insurance, a life insurance policy is a contract between you and the insurance company in which they agree to pay out the designed lump sum provided that you make your premium payments.  

How Does Life Insurance Work? 

Every insurance company has its own process through which individuals or families can apply for a life insurance policy. The typical process includes meeting with your insurance agent to discuss your coverage needs, after which you’ll go through the formal application and underwriting process. As a component of the underwriting process, the insurance company may direct a third-party administrator to facilitate a physical exam to assess your risk and health, which helps determine your policy premium. After this exam and the underwriting process are completed, your agent will meet with you to present your policy options. Once you’ve signed the contract, coverage typically begins, and you’ll need to make your premium payments.  

At Gaudette Insurance Agency, we can meet with you to discuss the life insurance process and the options you might have for coverage. 

What Are the Types of Life Insurance? 

Numerous types of life insurance may be available, but many of these policies fall into two different categories. Term life and whole life insurance are the two main types of life insurance that many people choose.  

• Term life insurance can provide money for your beneficiaries if you die during your policy’s term, which may be a period of 10, 20, 30 or more years, depending on your policy. If you don’t die during this period, your policy doesn’t pay, and you must reapply for a new policy to continue coverage. 
• Whole life insurance lasts for the rest of your life once you’ve enrolled, and your policy won’t expire unless you stop paying your premiums. A whole life policy also offers a cash value investment opportunity, which could serve as a revenue source while you’re alive as well as the eventual death benefit.  

Other life insurance options may also be available, and we can explore if any of these types of coverage might benefit your situation.  

What Age Should I Get Life Insurance? 

It’s never too early to consider purchasing life insurance. Many people start thinking about life insurance when they may need to protect their family financially after they are gone. However, even without a family, you may decide to buy life insurance to provide financial protection for other loved ones. There isn’t a right or wrong age, but it depends on if you want to make the financial commitment of a policy premium and if coverage is necessary. We can work with you to ensure you have a policy that meets your needs—whenever that may be. 

Protect Your Financial Future 

Gaudette Insurance Agency provides life insurance solutions to the residents of many Massachusetts communities. Call our Grafton office at 508-839-6022, our Westborough office at 508-366-8736, our Shrewsbury office at 508-925-2970, our Whitinsville office at 508-234-6333 or our Southborough office at 508-480-9540 to start on a life insurance policy for your peace of mind.