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EverGreen Insurance Agency - Peter Schmidt

690 Route 211 E
Middletown, NY 10941

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What are the benefits of having a life insurance plan?

If you are in the Middletown, NY area, you will probably have many personal insurance needs. While you will want to know that you have appropriate coverage for your assets and to reduce your liability risks, you also should get a life insurance policy. There are multiple advantages that come when you do have a proper life insurance plan in place. 

Benefits of Having Life Insurance 

Benefit from Financial Advantages

While life insurance coverage is typically the largest benefit of getting this coverage, you can also use it to further your personal financial plan. A whole life insurance policy will provide a long-term benefit as some of the money paid each month will build into an account. Eventually, you are able to close this out and collect the built-up capital. It can also be used to collateralize a loan. Ultimately, it is a great way to conservatively build equity. 

Provide Financial Support

A primary reason that people will get a life insurance plan is so they can offer financial support to their dependents. If you have this type of coverage, you can ensure your dependents have the financial resources they need if you were to pass away unexpectedly. This coverage is also a good idea even if you do not have dependents as it can ensure any of your end-of-life expenses are covered. When getting a term life plan, you are able to build a policy that meets your specific needs. 

Contact Us Today

Those that live in the Middletown, NY area need to ensure that they have a proper life insurance policy. When you are looking to get this insurance, calling the team with the EverGreen Insurance Agency is a great option. The professionals with the EverGreen Insurance Agency know the importance of this coverage and they will offer any guidance that you need to build your next plan. 

Life Insurance Is Important For All Ages.

Life insurance is likely the last thing on your mind as you through your day-to-day life, especially if you do not have any children or dependents. However, it may be something you want to consider no matter the path you are currently on. At EverGreen Insurance Agency we provide life insurance to people of all ages in the Middletown, NY region. 

Reasons To Consider Life Insurance Even If You Do Not Have Dependents

  • You can purchase coverage just for your funeral expenses, so you do not leave the burden of cost on your loved ones. Many people see life insurance as this huge policy. However, it can be catered to individual needs. 
  • In many cases, if you get life insurance when you are young and healthy you will pay less each month even as you age. This can add up significantly over the years. Long-term life insurance offers many benefits that people who purchase their first policy later miss out on. 
  • Even if you do not have children life insurance is needed if you have a spouse, even if your spouse may make more than you. If you sign for a mortgage or share bills together it makes sense to leave them with some support. 
  • Some policies have "living benefits" that allow the policyholder to cash out some of the money they paid into their policy at certain points. The earlier you purchase this policy the better for this purpose. Be sure to ask about this benefit. 

Give Us A Call

Contact us at EverGreen Insurance Agency if you have any questions about purchasing an insurance policy at any stage in your life. We serve the Middletown, NY area and look forward to hearing from you. 

Critical Life Events That Require You to Re-Evaluate Your Life Insurance

Certain life events can have a significant impact on your life insurance needs. If any of these happen to you in Middletown, NY and surrounding areas, it’s essential to sit down with your agent at EverGreen Insurance Agency and re-evaluate your coverage. 

Critical Life Events Impacting Your Life Insurance 

1. Getting married

When you tie the knot, your financial situation changes drastically. You now have another person to think about financially, and you may also combine your incomes and debts. This all influences how much life insurance you need.

2. Having a baby

Becoming a parent is a tremendous responsibility, both emotionally and financially. If you’re the family’s breadwinner, your death would have a significant financial impact on your spouse and child. As a result, you may need to increase your life insurance coverage. Your EverGreen Insurance Agency representative can help you determine the right amount of coverage for your family.

3. Buying a home

A mortgage is probably the most significant debt you’ll ever take on, so it’s essential to have adequate life insurance in place if something happens to you and your family can’t keep up with the payments.

4. Sending a child to college

College is a major expense, and if something happens to you before your child graduates, you want to make sure there’s enough money to cover the cost. Life insurance can help make that happen.

5. Starting a business

If you’re self-employed or own a small business, your family would be financially impacted if you were to die. That’s why it’s crucial to have life insurance to protect them.

6. Getting divorced

If you’re going through a divorce, you may need to adjust your life insurance coverage. For example, if you have a joint policy with your ex-spouse, you’ll want to change the beneficiaries to avoid any confusion down the road.

These are just a few life events that can impact your life insurance needs. If any of these happen to you, sit down with your EverGreen Insurance Agency and re-evaluate your coverage in Middletown, NY.

What Type of Life Insurance Do I Need?

When it comes to life insurance, there are a number of options. Let’s explore each below so that you can make an informed decision. 

Term Life Insurance

Term life insurance is valid for a specific period of time and is usually sold in lengths of one, five, 10, 15, 20, 25 or 30 years. Coverage amounts can be purchased in a variety of allotments but can stretch well into the millions. One pro of term life insurance is that it is generally the cheapest premium; however, if you live beyond the term then your beneficiaries won’t receive the payout.

Whole Life Insurance

As the name implies, whole life insurance lasts until you die as long as the policy continues to be paid. Think of whole life insurance as a "set it and forget it" policy.

Universal Life Insurance

With this type of policy, the death benefit is guaranteed and your premiums stay the same forever. Since there is no cash value, it is cheaper than whole life and the benefit is guaranteed at the age you choose.

Indexed Universal Life Insurance

With this policy, the cash value is linked to the success of the stock market with the gains determined by a formula that is specifically outlined in the documentation. With indexed universal life insurance, you can access the cash value at any time and it could see significant gains if the stock market does too. 

With so many options for life insurance, it can be a bit overwhelming to choose a policy. Luckily, the team at EverGreen Insurance Agency in Middletown, NY is ready to help.

Life Insurance FAQs

Life insurance isn’t the prettiest topic on earth, but you need it if you want to protect your future. Since life insurance can be complicated, it’s vital to understand the basics before taking the plunge. As your trusted insurance in Middletown, NY, EverGreen Insurance Agency has compiled a FAQs section to help you understand life insurance better.

What is life insurance?

It’s a contract between you and the insurance company to pay your beneficiaries when you die. On your part, you have to keep paying premiums as long as the policy is in place.

What are the different types of life insurance?

Term insurance is the most common because it’s affordable. This life insurance plan remains in effect for a certain period of, let say, 15, 20, or 30 years as long as you pay your premiums. Whole life insurance remains in effect for the rest of your life. Your beneficiaries receive death benefits when you die, although this insurance policy accumulates a cash value that you can use when alive.

Who needs life insurance?

Of course, not everyone needs life insurance, but most do. If you have dependents, you definitely need life insurance to care for their financial needs when you are long gone. Additionally, you need life insurance if you:

  • Have debts
  • Want to finance your final expenses
  • Own a business
  • Are a stay-at-home parent

If you are also young, this is the best time to buy life insurance because you are considered less risky. Ultimately, purchase life insurance when it’s affordable and scale up your life insurance policy as your life changes.

Where can I buy life insurance in Middletown, NY?

Looking for life insurance to protect what matters most? Your search has ended. Let EverGreen Insurance Agency be your life insurance partner. We will advise on the best policy for you based on your budget, lifestyle, and other unique needs.

New York Life Insurance Guide: Is There a “No Medical” Life Insurance Plan?

If you are looking for life insurance, you’ll likely hear the phrase “no medical life insurance” a lot. What this term means is that this is a kind of life insurance that you can get without having to take a medical exam. Many kinds of life insurance policies require it, so that the insurance company can determine what you qualify for.

But a lot of people don’t like insurance that comes with that requirement. So many companies will offer “no medical” life insurance. At EverGreen Insurance Agency, we want Middletown, NY residents to have access to whatever kind of life insurance that they need.

What is No Medical Life Insurance?

No Medical life insurance is a kind of life insurance that you can get that means you will get life insurance coverage without having to take the medical exam. There are two kinds, simplified issue life insurance, and guaranteed issue life insurance.

When you get life insurance that requires a medical, you’ll have to answer a medical questionnaire, and a nurse will come to your home to take your blood, urine, and some vitals. That will help the insurance company determine if you have pre-existing conditions.

With No Medical life insurance, that part of the application process is removed.

Who Gets No Medical Life Insurance?

There are a number of reasons that people get this kind of insurance.

• Pre-existing conditions
• People want fast approval on life insurance
• People don’t like needles or exams

There is nothing wrong with choosing No Medical life insurance. It’s there for people just like you.

Get a Quote

When you are purchasing life insurance, the options seem never ending. If getting that exam makes you nervous, don’t get one. Get No Medical life insurance. At EverGreen Insurance Agency, we want Middletown, NY residents to be able to get the life insurance they need for their loved ones. Call us for a quote today.

Why Do I Need Life Insurance in Middletown, NY?

Life insurance is the ultimate foundation of your financial security and can accord you comfort, knowing that your dependents are protected. As long as you furnish your insurer with premiums, you can be assured that life insurance takes care of your financial interests.

 Are you looking for a trusted insurance agent that offers competitive life insurance plans? Don’t fret. At EverGreen Insurance Agency situated in Middletown, NY, we will assist you in designing outstanding life insurance coverage that can go a long way in safeguarding your financial plans.

Benefits of a life insurance policy

Are you still unconvinced that you need life insurance? Here are the benefits you accrue when you invest in a life insurance plan. 

  • Peace of mind: Having proper life insurance offers the ultimate peace of mind. This instilling of peace of mind is so because if the policyholder unexpectedly meets their demise, they are guaranteed that their family and loved ones will have a financial safety net.
  • To pay for your funeral expenses: Having inadequate savings to cover emergency expenses like a funeral can be a substantial financial burden. Having a salient life insurance policy will help your beneficiaries utilize the money to settle your burial expenses with ease.
  • To cover debts: Family members and loved ones could utilize the savings from your policy to cater to essential expenditures such as paying a mortgage, car loan and credit cards.  
  • To cover dependents: Your loved ones have financial stability due to the guaranteed income they get from you. This income helps them settle financial obligations like house rent, telephone, electricity, and other expenses. Even when you die, life insurance supplements your income, helping your dear ones cope financially.
  • To protect your business: Death benefits from life insurance can help your business settle severance to employees in case of bankruptcy. Besides, it helps your family purchase your outstanding shares in the business. 

 Life insurance needs are unique to everyone, and that’s why you need a competitive insurance agent to advise you. If you are looking for life insurance in Middletown, NY, please contact EverGreen Insurance Agency.

What type of life insurance should I get in Middletown?

When you live in the Middletown, NY area, many important insurance decisions will need to be made. One type of insurance that you will need to consider getting is life insurance, which offers financial protection to those you care about. The two most common types of life insurance are whole and term coverage. It would be best if you considered both options when picking a new plan. 

Term Life Coverage

A type of life insurance to consider getting when you are in this area of New York is term life coverage. When you obtain a term life plan, you will get to build it to meet your needs. This will allow you to choose a term length and coverage level that provides your dependants with appropriate financial protection. Further, the premium payments for it tend to be lower than those with other coverage types.

Whole Life Coverage

It would also be a good idea to consider a whole life insurance plan. When you get this type of coverage, life insurance can protect you for the rest of your life if you keep making payments. While the monthly payments are higher than they are with term life, you can also use this as an investment option. Over time, you will build an account that grows with interest that you can eventually liquidate. This makes it a good addition to a conservative investment plan. 

As you are looking for a new life insurance plan in the Middletown, NY area, it would be wise to call the EverGreen Insurance Agency. The insurance team with the EverGreen Insurance Agency understands the necessity to have proper life insurance coverage. They can also help you choose and build a plan that is ideal for your situation.