<h1>Life Insurance</h1>

OceanPoint Insurance, an RI insurance agency, offers life insurance and a range of financial services.

Life InsuranceUnderstanding your options is easier than you might think

Reviewing your life insurance coverage can often seem like a daunting task. While advance planning for a time when you are no longer here for your family is challenging, it is also one of the best ways to protect them.

OceanPoint Insurance is committed to helping you safeguard what matters most, and in recognition of Life Insurance Month we offer the following facts regarding life insurance.

Many people are often dissuaded from purchasing life insurance because they believe it is too expensive. This is one of the most common misconceptions. Depending on your personal needs and budget, there are several options available to you:

Term life – As the most inexpensive form of insurance, there are no cash values or dividends. Term policies are purchased for a specific period of time such as 10, 15, 20 or 30 years. If an insured loved one passes away during that time period, a beneficiary is paid the dollar value of the policy.

Whole life – A whole life policy is protection for someone’s entire life. Premiums, which insurance companies invest, stay the same during the life of the policy. There are cash values, and some companies pay policyholders’ dividends. The cost is higher, but it is considered more effective for estate planning.

Universal life – A valuable coverage and living benefit, universal life policy allows for more flexibility and is more of an investment vehicle, however, increased contributions may be necessary if the investment interest assumptions are not met.

Variable life – Offering more investment options than a universal life policy, a variable policy allows the policyholder the ability to select the investment options.

While no one chooses to leave their loved ones unprotected, being unprepared for life’s unexpected events can do just that. If something should happen, life insurance provides your dependents with income so they may continue to live comfortably. Options can also include coverage for medical, legal, and funeral costs as well.

At OceanPoint Insurance, we are dedicated to ensuring the safety and security of you and your family. For a complimentary review of your life insurance options, please call us today at 401.847.5200.

RI Life Insurance

RI Life InsuranceThe concept of life insurance is something that few people like to discuss. Planning for a time when you are no longer available to provide for your family might be difficult, but it is one of the smartest investments you could make. September is Life Insurance Month, and in recognition OceanPoint would like to highlight some fundamental facts about life insurance.

One of the most common misconceptions regarding life insurance is the cost. Many are dissuaded from purchasing life insurance because they feel it is too expensive. However, there are a variety of life insurance options available to fit your specific needs and budget. Some of the basics are:

Term life – This is the most inexpensive form of insurance because there are no cash values or dividends. Term policies are purchased for a specific period of time such as 10, 15, 20 or 30 years. If an insured loved one passes away during that time period, a beneficiary is paid the dollar value of the policy.

Whole life – As the name suggests, a whole life policy is protection for someone’s entire life. Premiums, which insurance companies invest, stay the same during the life of the policy. There are cash values, and some companies pay policyholders’ dividends. The cost is higher, but it is considered more effective for estate planning.

Universal life – A valuable coverage and living benefit, universal life policy allows for more flexibility and is more of an investment vehicle, however, increased contributions may be necessary if the investment interest assumptions are not met.

Variable life – A variable policy offers more investment options than a universal life policy, with the policyholder having the ability to select the investment options.

In short, life insurance protects those who depend on you for financial support. If the unexpected should happen, life insurance provides your dependents with income so they may continue to live comfortably. It can also cover medical, legal, and funeral costs as well.

At OceanPoint Insurance, we are committed to the total protection of you and your loved ones. For a complimentary review of your life insurance options, contact us today!.

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Screen Shot 2014-03-07 at 2.13.32 PMOceanPoint Insurance Agency is always looking for ways to enhance our services. In order to better serve our customers, you now have the ability to receive a free Term Life Insurance quote right from our website.

Life Insurance is one of the most important investments you will make during your lifetime. With the chaos of everyday life, it’s easy to put off important time-consuming tasks, such as looking at your Life Insurance options.

With our new instant quote tool, located on the Financial Services page of our website, you can easily compare rates of the insurance companies we represent. You can now review your options right from the comfort of your own home, when it is convenient for you.

For an instant quote, simply select your benefit amount, length of term, premium option, and whether you are a smoker or non-smoker, and we can provide you with an instant quote.

It is a fast and easy way to review your Term Life Insurance options. Receive your free personalized quote today to see how affordable it really is.

For more information about your Life Insurance options, call OceanPoint Insurance at 401-847-5200.

shutterstock_119918665Life insurance is one of the most important investments you will make during your lifetime. If the unexpected were to happen, life insurance will help protect those who depend on you for financial support. Life insurance will provide your loved ones with a source of income, and can help cover medical, legal, and funeral costs. Give yourself and your family peace of mind knowing they will be able to continue living comfortably and won’t have to worry about daily living expenses.

As with all types of insurance, there are a number of different options for coverage. The two major categories life insurance falls into are Term Life Insurance and Whole Life Insurance. Here is a brief explanation of each policy:

Term Life Insurance is designed to meet temporary needs. Term policies are purchased for a certain amount of time such as 10, 15, or 20 years and if the insured person dies during this period, a beneficiary will receive the dollar value of the policy. This is the most inexpensive form of life insurance because there are no cash values or dividends.

Whole Life Insurance provides you with coverage for your entire life. When you purchase a Whole Life Insurance policy, your premium is guaranteed to never increase, there are cash values, and some companies pay policyholders’ dividends. The cost is higher, but it is considered more effective for estate planning.

Universal Life Insurance provides permanent insurance protection and access to cash values that grow tax-deferred. A Universal Life policy allows for more flexibility where you are able to adjust the frequency and amount of your premiums.

A Variable Life Insurance policy offers more investment options than a universal policy. In addition to permanent life insurance, a Variable Life policy allows you to make investments that can help you accumulate money for your future needs.

Many times the conversation about life insurance is put off. In order to ensure your family’s financial security in the event of your passing, it is crucial you review all of your options. Call OceanPoint Insurance at 847-5200 to speak with an experienced agent about which option is best for you.