Staying Protected During Difficult Times

Life insurance can be extremely helpful insurance to have especially as you age. It helps your loved ones with different aspects of life in the event you have an untimely death and they are left with bills and other expenses. 

The agents at Cordell Insurance located in Baton Rouge, LA have helped many of our clients to better understand their life insurance policies.

Life Insurance Terms to Know

Here are some of the common life insurance terms you need to know:

• Policyholder – Policyholders purchase life insurance and may be insured with it, though they are not necessarily covered by it.
• Premium – This amount paid will keep your life insurance policy active. If a premium is not paid, you will lose coverage.
• Life Assured – This is the person who is covered by an insurance policy. Policyholders may purchase insurance for spouses or family members.
• Riders – These are special types of life insurance products that are added to a base policy. They can help provide coverage for things like critical illness cover.
• Grace Period – Grace periods are the amount of time you have to pay your premium before you lose coverage. Companies grant different amounts of time for grace periods with a typical time frame of 15 to 30 days.
• Exclusions – There are certain incidents that are not covered under your life insurance policy. It is important to discuss this with your agency when you are purchasing life insurance.

Quality Life Insurance in Louisiana

Contact us at Cordell Insurance of Baton Rouge, LA to discuss your life insurance options with one of our knowledgeable agents. We are here to serve the Baton Rouge community with the best life insurance products on the market.