22 Main St PO Box 464
Arkport, NY 14807
Life insurance is one of the most important investments you can make in your family's future. Anyone who is the primary breadwinner for their household should have a life insurance policy to secure the financial future of their dependents. At Genesee Valley Agency, we can help you find the right New York life insurance policy in Arkport, Caledonia, Odessa, Avoca, Dansville, Wayland, Candor, and surrounding areas.
When you have life insurance, your life insurance provider agrees to pay your beneficiaries a death benefit if you pass away during the policy term. This death benefit provides financial support in the absence of your income.
You will need to pay a monthly premium to keep your life insurance policy active. Life insurance policy premium amounts can vary widely depending on factors such as the age and health of the policyholder and the amount of the death benefit.
There are a few different types of life insurance. To purchase the ideal policy for your needs, you should understand what these different life insurance types are and how they work.
A term life insurance policy lasts for a specified number of years. The policy doesn't accumulate value, and the policyholder's beneficiaries only receive money if the policyholder passes away during the policy term.
A whole life insurance policy is permanent and lasts for the rest of the policyholder's life. This is a form of savings in addition to life insurance because the policy accumulates cash value over time.
Universal life insurance is like whole life insurance, but it includes more flexible premiums and usually an investment savings element.
Variable life insurance is a securities contract. Its value is highly dependent on the market and generally composed of various investment funds.
If you've never purchased life insurance before, you might be uncertain of what the best options are for your family. At Genesee Valley Agency, we understand, and we're here to help. You can ask us any questions New York families have about meeting their life insurance needs in Arkport, Caledonia, Odessa, Avoca, Dansville, Wayland, Candor, and surrounding areas.