Nordstrom Insurance Agency
Medicare Specialist
James Nordstrom
Insurance Broker
(913)-593-6485
Life Insurance
Everything you need to know about Life Insurance
Life insurance should be simple, straightforward and easy to understand
Individuals and Families
Protect those who depend on you and safeguard their future. With a variety of policies to fit your needs, we remove the hassle of getting covered and find you the best policy to fit your needs.
What is term life insurance?
Term life insurance can provide a payout for the term, or length of time, you’ve selected in advance, usually for 10, 20, or 30 years. When the term expires, you may renew it, change the policy to permanent coverage, or allow it to terminate together.
-
Payment is guaranteed during the term period as long as the premium is paid
-
Premiums are based on age, health, and life expectancy
-
You will not always need a medical exam for term life insurance
-
You can apply online for term life insurance and may be approved in minutes
What is Whole Life Insurance?
Whole life insurance, also known as permanent life insurance, provides coverage for your entire life. The policy will remain active until you die, as long as you keep paying the monthly premiums.
When you pass away, the insurance company will pay out a predetermined amount to your beneficiaries. They can claim the policy benefit to cover funeral costs, pay off any loans or take care of general living expenses.
Whole life insurance policies also include a savings component that grows at a guaranteed rate, building cash value that you can access and use for certain purposes.
Approval is Fast & Easy
Depending on the type of no exam policy, approval is guaranteed or at the very least, granted much more easily than traditional life insurance policies. People with different health standings can get approved within days. There is little-to-no underwriting involved when calculating the premiums.
Why do you need Life Lnsurance?
Replace lost income
You can help your dependents financially who rely on your income with adequate life insurance coverage.
Pay off debt
Debt does not disappear, whether you are alive or not. In most cases, your debt (mortgages or other loans) may fall on your spouse or other family members who are co-signers – life insurance can help alleviate just that.
College planning
Insurance proceeds can be a good supplement for your kids’ savings towards college.
Funeral expenses
In the case of your passing, life insurance can help ease the financial burden of funeral expenses.
Business coverage
As a business owner and partner, life insurance helps lessen the financial burden one partner is left with if the other dies.
Inheritance taxes
To avoid having your family getting hit with a big estate and inheritance tax bill when you pass away, make sure to be covered with life insurance to help cover these added costs.