When you reach out to Alan Farley Insurance LLC about purchasing a life insurance policy, you might have in mind the same type of policy you had while studying in Tulsa, OK, or a policy from a previous employer. However, we’ll ask you a few questions about your coverage needs and suggest the most suitable options. This is because life insurance boasts one of the widest arrays of coverage in the industry.

Common Types of Life Insurance

Life insurance comes in many forms. Typically, you choose between whole life or term life. If you pay the premiums, a term life insurance policy remains in effect for a finite period, for instance, 10 years or 30 years. You can renew it for another term or switch to a whole-life policy at its expiration. A whole-life policy stays in effect until you pass away as long as you keep paying the premiums.
Both policy types allow you to pay the premiums monthly, quarterly, annually, or make a one-time payment. Policies with a one-time premium calculate the price based on the average lifespan. After the first payment, you’ll never have to pay premiums on a policy with a lump sum.

Varieties within Term and Whole

Whether you opt for whole or term, the industry presents many varieties, such as universal life, cash value life, burial, and others. Burial insurance solely covers your funeral expenses, while cash value life pays a death benefit to your named beneficiary and allows you to build a pre-tax savings account throughout your lifetime.

Contact Your Insurance Agent Today

Call or email Alan Farley Insurance LLC today to explore your life insurance options. Ensure the protection of your family, close friends, and beloved charities in Tulsa, OK, in the unfortunate event of your death.