Watch the touching story of David Meno, one of our agents, who graciously shares his personal journey and advocates for the importance of life insurance.
Life insurance is a contract between an insurance provider and a policyholder that gives your loved ones financial protection in the event of your death. The policyholder agrees to pay a monthly premium in exchange for a guaranteed payment to a designated beneficiary upon the insured person's death. Premiums are determined based on the amount of coverage you need and the amount of risk assumed by the company for the specified time of the policy. Aside from the financial benefits, life insurance provides peace of mind, a future for your family and no scary surprises during that challenging time.
When you purchase a life insurance policy and continuously pay your monthly premiums, in the event of your death your chosen beneficiaries can submit a formal request (also known as a claim) to the provider and receive the payout benefit. With Legal & General America, you can purchase a life insurance policy from an agent or you can get a free quote online to start the process on your own. When it is time to file a claim, your designated beneficiary can easily start the process by submitting the policy information through a secure online form and, once approved, get their payment processed in one day.
None of us know what the future may bring. If you have children or a spouse who depends on your income, life insurance means your loved ones could be protected from paying your debts and funeral expenses, and may even help them to be completely debt-free when you’re no longer around.
For the lowest initial price, you can get term life insurance for a specific period. A great choice for those on a budget.
Permanent life insurance remains in place as long as you pay your premiums. Enjoy flexible payments to match your needs.
The conversion option allows you to exchange your term policy for a universal life insurance policy. Why do this? Because your new universal life policy will be issued at the same underwriting class as your existing term policy. Should a change in your health occur, you would be exempt from a change in underwriting class. Conversions can be requested anytime within your guaranteed level premium period, or until age 70, whichever comes first. Policies issued at age 66 or over are convertible during the first five policy years.
Policy premiums can be paid in the following ways to fit your needs: annually, semi-annually, quarterly and monthly. A popular way of paying is to set-up automatic bank drafts to your account, commonly referred to as electronic funds transfer, EFT, or pre-authorized checking, PAC. The automatic payment method is available for all premium bill modes. You may also pay by check for annual, semi-annual or quarterly premiums. An automatic bank draft is required for a monthly premium payment.
A life insurance premium is the regular payment you make in exchange for coverage. The rate you pay can be fixed or flexible depending on your policy type. Most people pay their premiums annually, but we also offer semi-annual, quarterly and monthly payment schedules depending on your needs.
No one can predict the future, but the greater your life insurance coverage, the greater your peace of mind. Life insurance products are designed to cover almost any eventuality, from critical illness to sudden funeral expenses, so increasing your coverage means you can meet essential daily costs – such as childcare and paying the mortgage – when you need it most.