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Trout Insurance Blog

Five Things to Know Before Buying Life Insurance

6/18/2020

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Below are five things that are important to know when looking into buying a life insurance policy:

1.Many benefits
Most people see the primary benefit of having life insurance as a guaranteed death benefit paid to their beneficiary, however, there are other benefits to think about:
  • Cash value interest or earnings accumulate over time.
  • Life insurance proceeds do not go through the probate process at the time of your death.
  • Life insurance death benefits are not public record.

2. Premiums Differ from Company to Company

There are hundreds of whole life insurance companies, there are plenty of ways to get a quote and see what is affordable for you. Never assume that all life insurance companies have the same premium structure. This will give you a better understanding as to how much each provider charges for the type of coverage you are interested in. 

3. Your Health and Age are Important
Usually when looking for whole life insurance you are most interested in taking care of two things:
  • Obtaining a policy at the cheapest possible price.
  • Securing a policy with the highest possible death benefit based on your budget.
The younger and healthier you are, the less you will pay for coverage. The best way to save on whole life insurance is to purchase it when you are young and healthy.

4. Some Companies are Rated Higher than Others
When looking at different companies to purchase whole life insurance, look at their ratings. After researching, you will find that some companies are rated high when compared to the industry average while others are well off the pace. It goes without saying, that the highest-rated companies are those you should and can put your trust in.

5. You Can Earn Dividends
The longer you keep your life insurance, the more you can collect in terms of dividends. There are many ways to use whole life insurance dividends, such as:
  • Take dividends in cash.
  • Leave the dividends alone to accumulate interest.
  • Use the dividends to purchase additional insurance.

Before making this decision check with your insurance company to discuss the pros and cons of these options. The last thing you want to do is do anything with your dividends until you fully understand the impact it will have on you and your policy.
​

To discuss more about Whole Life Insurance contact one of our Trout Insurance  agents today!

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Insurance Basics

8/28/2019

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For many, the term insurance is thrown around very often but not many people understand what exactly it is. The origins of insurance date back all the way to the Code of Hammurabi, a collection of Babylonian laws of 1700 BC, which provided the first credit insurance. But modern-day insurance dates back to 1666 with the Great fire of London which destroyed 13200 homes, which formed the birth of Nicolas Barbon’s office to insure buildings.  
Insurance is providing protection against financial loss in a number of situations. These situations include loss against one's property, life or health.  
Life insurance policies provide a certain amount of money when the insured person dies. Health Insurance pays all or covers most of one's medical care, whether it is hospitalization, surgery or a doctor's visit. Property Insurance is bought to protect individuals against financial loss on assets and has two major forms which are Home and Auto insurance.  
For more about any type of insurance, go to https://www.troutinsurance.com/ and get in touch with a Trout Insurance Agent today.  

​

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​Visit: 29 N Main St
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Mail: PO Box 1414     
Weaverville, NC 28787  
Ph: 828.279.4681
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contact@troutinsurance.com
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  • Insurance
    • Home & Auto Insurance
    • Medicare
    • Income Protection >
      • Disability Insurance
      • Long-Term Care
      • Critical Illness
      • Annuities
    • AARP - Hartford
    • Life Insurance
    • Health Insurance
    • Dental and Vision
    • Employee Benefits
    • Business Owners >
      • Group Health Insurance
      • Commercial Property & Liability
      • Business Overhead Expense Disability
      • Disability for Business Owners
      • Critical Illness
    • Short Term Health
  • Trout Team
    • Our Story
    • Dave Trout
    • Jessica Cody >
      • Home & Auto Insurance
    • Jeremy Sheridan
    • Robert Pugh
    • David Hanson
    • Jennifer Trout
    • Idelle Davids
    • Jan Trout
    • Steve Dillingham
  • Resources
    • Employee Success
    • Fixing the ACA "Family Glitch"
    • Aetna/CVS Health NC
    • Client Center
    • Reviews
    • Blog
    • Articles >
      • Health Insurance 2022
      • Friday Health
      • Comparing 2022 Plans
      • Insurance Partners
      • Best Value Insurance Plans
      • ARP Facts CMS
      • ARP Unemployment
      • ARP 2020 Excess Premium Subsidy
      • No Income Cap
      • Unemployment Glitch
      • Asheville Homesharing
      • 2019 Verification-a
      • BCBS Online Setup
      • APTC Income 2023 & Tax Form 1040
      • Lost Subsidy
      • Privacy Policy
  • Community
    • Alignment's 5-Star Switch
    • Employer Networking w/ Just Economics
    • FALLing with Families
    • Medicare New Era Event October 13th
    • Blue Ridge Pride Festival
    • Health & Wellness Fair
    • Goombay & YMI
    • Alignment Health Plans
    • YMI Winter Coat Drive
    • Medicare Seminar
    • Art in Autumn + MANNA
    • Music on Main
    • Western Women's Business Center Conference
    • Mural on Main Street
    • Expanded Team- Next Generation
    • Back to School
    • Weaverology
    • Mother Earth Food
  • Contact Us