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R&B Insurance Solutions LLC

Life Insurance

Life insurance is an important part of your legacy and financial planning. Despite its vital role, many people in Oklahoma still don’t know much about life insurance. Most people trust R&B Insurance Solutions LLC for guidance when purchasing the policy. If it’s your first time buying the policy, you may want to learn more about it to make an informed decision.

What is Life Insurance?

Life insurance is an agreement between you and your insurer that promises to pay a large sum of money to named beneficiaries if you pass away in exchange for regular premium payments. To qualify for life insurance, you must provide accurate or factual information about yourself, including lifestyle habits and current health conditions. The policy is designed to reassure you that your dependents will be financially protected in the event of your death.

Types of Life Insurance

There are two types of life insurance:

  • Term life insurance: This type of insurance can be purchased for a specified period, such as one year up to 30 years. It’s a popular option due to its flexibility and affordability.
  • Permanent Life insurancePermanent or whole life insurance provides coverage for a whole lifetime. This coverage builds cash value but is more expensive than term life insurance.

How Does Life Insurance Work?

Life insurance normally pays a lump sum or regular payments on your death, providing your dependents with financial support after you’ve gone. The amount your beneficiaries receive depends on the level of coverage you buy.

It’s also important to understand that you must choose primary and contingent beneficiaries. The primary beneficiary is the first name you indicate that will receive the money. In contrast, the contingent beneficiary is the second option you choose to collect the money if the primary beneficiary dies or is unable to collect the money.

Do You Need Life Insurance in Oklahoma?

Trust insurance experts at R&B Insurance Solutions LLC to help you find a policy that matches your needs and budget. We can help you walk through the buying process from inception to completion. Contact us today for questions, quotes, or new policy discussions.

Partner Carriers

  • Allstate
  • American Modern
  • CNA
  • Cornerstone
  • Encompass
  • Liberty Mutual
  • Openly
  • Progressive
  • Safeco
  • The Hartford
  • Travelers