Tag: life insurance

If you have developed a disability due to a motor vehicle accident or an illness, you may begin to worry about how to provide for your family. One of those concerns could involve your ability to get life insurance in Colorado Springs, CO. Having a disability doesn’t automatically disqualify you from buying a life insurance policy, but there are additional factors to consider. A Westco Insurance LLC agent can help guide you through the process.

Disability Severity and Type Matter

While having a disability doesn’t automatically disqualify you from obtaining life insurance, the type and severity of your disability will impact how easily you can get a policy. You will have an easier time finding coverage if your disability doesn’t affect your life expectancy. Conditions such as blindness or hearing loss generally don’t affect your ability to get coverage. However, underwriters may still consider your condition a risk, which could lead to higher premiums. Being honest about your disability and how it affects your life is crucial. Failure to disclose such information can result in policy termination or denial of benefits.

Weigh Your Options

Even if your disability impacts your life expectancy, you can still get coverage, but your options may be limited. One option involves completing a pre-sale application form where you explain your disability and detail your medical history. This document can help you determine which insurers are willing to issue coverage. If you can’t get traditional insurance, consider guaranteed-issuance life insurance or burial policies, which don’t require medical exams.

Working with an agent experienced in finding such policies can help you secure the best life insurance policy for your circumstances. To learn more about life insurance coverage for disabled individuals, contact Westco Insurance LLC, serving residents of Colorado Springs, CO. Call today to get started.

If you have grandchildren, you probably have witnessed them being showered with toys and gifts for their birthdays and holidays. Just how many toys does a child need?

For those in the Colorado Springs, CO, area, Westco Insurance LLC has a unique idea that can literally pay dividends for years. Consider the gift of a permanent, whole life insurance policy.

Why an Insurance Policy for Grandchildren Could Be a Good Idea

Yes, it may be a little unique, but buying a life insurance policy for a child makes sense.

• A permanent life insurance policy can build value over the years. This equity can be used to help pay for college, buy a first car, or even get an early start on a retirement plan.
• Life insurance is more affordable when young. This means you can secure a large amount of insurance at an affordable price.
• It provides life insurance protection while it builds value. This also helps assure insurability.
• You can choose payment options. You can pay for the policy upfront in a lump sum or make payments over time, which provides flexibility in budgeting.
• As a grandparent, you probably appreciate how quickly time passes. The longer a whole-life policy is in force, the more opportunity it has to increase in value.

Learn More Today

If you live in the Colorado Springs, CO, area and would like to discuss the options for giving the lasting gift of life insurance to a grandchild, we invite you to contact us at Westco Insurance LLC. We can show you how an affordable policy can build value over the years, quote a price, and get you started. Contact us today.

At Westco Insurance LLC, we are pleased to serve families in the Colorado Springs, CO area with various valuable insurance products. Among these insurance programs is life insurance.

We are here to help answer your questions, explore your options, and secure protection that fits your budget. We can also explain some of the benefits of insurance that may not be fully appreciated.

Here are five aspects of life insurance that you should be aware of.

1. Quick Access to Cash Following a Claim

A life insurance policy can quickly provide needed cash to a family following a death, helping ease the stress of a difficult time.

2. Tax benefits

Life insurance proceeds are generally tax-free, meaning a family would receive the full value of their policy.

3. Accidental death benefits

Many life insurance policies may pay a multiple of the face value should death occur as the result of an accident.

4. Easy to change beneficiaries

The beneficiary of a life insurance policy can be easily changed. This can be helpful in situations such as marriage, divorce, or death.

5. Potential to build cash value

Many whole life or permanent insurance policies have a cash value element that can build equity as payments are made. This is a value that can be tapped into for future opportunities and emergencies. Ask our agent if you want to build cash reserves with your life insurance policy.

Get a Life Insurance Quote Today

Because life insurance premiums are based on the insured’s age and health, it may never be more affordable than right now. If you live in the Colorado Springs, CO area and want to see how affordable it may be, contact us at Westco Insurance LLC.

We look forward to assisting you in protecting your future.