Life Insurance in Virginia
As Virginia resident, you understand the importance and necessity of life insurance: it is the best way to make sure that your loved ones are always financially protected and secure. For those who are shopping for life insurance in Richmond, VA, and other surrounding towns, Cary-Wheeler & Associates Inc. prepared the list of things you should know about this type of insurance if you live in Virginia.
Things To Know
- Free Look Period. According to the VA State Code, all insurance companies are required to provide their clients with a 10-day free look period, during which they can try the policy, review it, and decide whether they want to keep it or not. If a client decides to cancel the policy within this period, he will receive a full refund.
- Grace Period. If you miss your payment for any reason, an insurance company must give you a grace period (from 4 weeks to 31 days), during which it can submit the payment. If you fail to pay within the grace period, your policy will be canceled.
- Two Types of Life Insurance Policies. The first type is whole life insurance that covers a person for his entire life. The second type of insurance is term life insurance. It is valid only for a certain period (known as term). The maximum duration of term life policies is generally 30 years.
The Reliable Agency Headquartered in Richmond, VA
If you are a VA resident and you are searching for life insurance to protect your beloved ones and get peace of mind, our agency Cary-Wheeler & Associates Inc. is ready to assist you and help to find the most appropriate and affordable policy based on your needs. Give us a call today to find out how you can protect the people you love and provide them with the financial security they deserve.