Oregon life insurance is a need that every Oregonian should be taking care of. If you do not have life insurance you are leaving your family open to financial distress should you pass away. Now we know this is not a favorite topic for anyone. Whenever the subject of life insurance comes up, whether it is California life insurance, Washington life insurance, or any other location, people tend to cringe a little. Not only is the subject of death no fun but insurance tends to be confusing. By the end of this article you will feel much better about knowing your Oregon life insurance choices (like Oregon term life insurance) and how to get started.
No matter how many different names they come under there are only two types of Oregon life insurance that will cover you for any type of death. The first is Oregon term life insurance. It is very simple to understand because it is just insurance. You pay a premium and the life insurance company covers you in the event that you pass away. The only thing that people tend to not understand is the term. The term is just the number of years that the policy is in effect and your premium does not change. So if you have $500,000 of 30 year term life insurance and the premium is $900 per year then the policy will stay exactly like that for 30 years. That’s it, there is nothing more to learn about term life insurance. The other type of Oregon life insurance has an investment attached to the policy. As you pay your premium a percentage of that premium is deposited into the investment account. This way the account grows over time, not only from your premiums but also from that money being invested and gaining interest. The most common names you will find for this type of life insurance are whole life insurance and universal life insurance. While this sounds great there is a big down side to these types of policies; they are expensive. Because you are paying money into your investment account and you are paying fees to have someone manage the investment, this type insurance is much more expensive than Oregon term life insurance. For this reason the vast majority of people choose term life insurance.
While we are able to pull quotes for whatever type of insurance you want most people will have us get Oregon term life insurance quotes for them. You can do this by filling out the form on the side of this page. Our team at TermLife360.com is dedicated to helping you find the best rates for whatever Oregon life insurance meets your needs.