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Bellefontaine Ohio whole life insurance- Alan Galvez InsuranceWhat is Ohio whole life insurance and how does it work?
 
Ohio whole life insurance covers you for your whole life.  Simple right?  While term policies might only last for 10, 20, or 30 years, a whole life policy never expires (as long as you keep paying the premiums!) 
 
Ohio whole life insurance policies also build up a cash value over time, meaning that they are worth more than just the initial death benefit when they pay out.  (We can show you projections for the cash value and explain it in more detail when quoting your policy.)
 
What is a big benefit of whole life insurance over term life insurance?
 
One of the biggest benefits to whole life insurance is that you don’t have to re-qualify for coverage over time.  So if you start the policy while you’re young and healthy, you’ll lock in those rates for life…no matter what health conditions you might develop later on. 
 
With term life insurance, you start the policy and 20 years later (or whatever length of time you choose), when it’s time to renew, you may have developed a serious health condition or become overweight. At this point you might not be able to qualify for life insurance or the rates may be way out of your budget. 
 
Whole life policies let you avoid that risk and lock in great rates now. 

Additional benefits

If purchasing for a child or grandchild, whole life insurance often has the option of paying it over the course of 20 years instead of over the person's lifetime. So if you want to avoid paying over many years, you can condense the premium into 20 annual payments. For example, let's say you want to buy a policy for your 1 year old grandson. If you elect the 20 pay option, the policy will be paid for by age 21 and you won't have to pay another premium. We've written several policies for grandchildren that have been purchased by grandparents.

Since whole life policies accumulate cash value, you can also take a loan of the cash that has accumulated (up to the allowable amount permitted by the insurance company) to be used by you in whatever way you choose. Most times you are required to at least pay back the interest. But this may be a good option in the event of an emergency need (home repair, medical issue, etc.)
 
How do I get Ohio whole life insurance?
 
We can help!  To give an initial quote, we only need to know your date of birth, smoking status, and general level of health.  Some policies may require a physical exam or medical records, it just depends on the coverage.

What if you're not sure what type of life insurance you need? Don't worry- we offer several types of life insurance. Our job is to work with YOU to find out EXACTLY what you need to protect YOUR family. We have a no-stress, no-pressure approach to life insurance and can figure out what type of life insurance works for YOU in just a few minutes. Let us know how we can help you- Call us at 937-592-4871 or visit our website to request your life insurance quote today!


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Alan Galvez Insurance
134 W. Columbus Ave.
Bellefontaine, OH 43311

 (937) 592-4871

 info@galvezinsurance.com

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