Finding the right life insurance products can be challenging in today’s insurance environment. Miller Hanover Insurance Agency offers a complete line of individual life insurance products that are crafted to meet you and your family's specific needs. We work with several different top-rated insurance companies, and we will place your account with the company that will provide you with the coverage and benefits you want.
We can help you make sound, informed decisions about issues affecting your life insurance needs. Our philosophy is to fully understand your objectives and then translate them into solutions that provide assurance and peace-of-mind.
For more information, you can read our Life Insurance FAQs.
Our life insurance products include:
What is Life Insurance?
Life insurance is a contract between a policyholder and an insurer. The contract requires the policyholder to pay a monthly, quarterly, or annual premium, which goes towards a life insurance account or savings. The insurer pays a lump sum of an agreed amount to the policyholder’s family or beneficiaries upon their demise or after a specific period of time.
Many people who take out life insurance policies do so to safeguard the well-being of their loved ones while making the pain of their demise bearable. If you’re looking for more information about life insurance, trust that our offices are open, and our experienced staff members are happy to address any questions you may have.
Starting Your Life Insurance Journey
Your life insurance journey with us starts with requesting life insurance quotes via our website or in person at our office. Getting a life insurance quote is fast and simple. Our representatives are happy to put you through the process while ensuring you get the necessary information.
What You Need to Start a Life Insurance Quote
To get life insurance quotes, we require the following information:
- Your current financial standing. This includes the amount of outstanding debt on mortgages, loans, etc.
- Health information. This includes specific information about your health, which looks at past and present medical conditions.
- Income information and occupation
- Other medical details. This includes your weight, height, age, blood pressure, cholesterol level, etc.
How Much Does Life Insurance Cost?
The best life insurance policy is one that matches your specific needs. We have ensured that our life insurance cost varies based on your specific situations. You can expect to get competitive rates as our insurance professionals walk you through the process. We will consider as many factors about your health and financial situation before presenting a quote to you. You can seek more information by calling or visiting our office for a one-on-one consultation.
We can help you make sound, informed decisions about issues affecting your life insurance needs. Our philosophy is to fully understand your objectives and then translate them into solutions that provide assurance and peace of mind.
Different Types of Life Insurance To Choose From
We maintain flexibility and wish to open affordable insurance to every community member. Our different life insurance policies include:
Term Life Insurance
Term life insurance in Hanover allows you to enter a life insurance agreement over a specified period of time. This type of life insurance policy can help replace income and cover some expenses in the event of the policyholder’s demise. Interested in a life insurance policy spanning over 10, 20, 30, or more years? Get in touch with us today!
Whole Life Insurance
Whole life insurance offers coverage throughout the policyholder’s life. The policyholder must meet the conditions to keep their policy active, including monthly or annual premium payments. Insurance payouts are made to designated beneficiaries upon the policyholder’s demise. The payout can provide supplemental income for the deceased’s family, assist in funeral and estate planning, help with income replacement, or help to pay off debts.
Universal Life Insurance
Universal life insurance is a type of permanent life insurance that combines the savings component and runs throughout the policyholder’s life, provided they meet the requirements/terms of the policy agreement. This type of life insurance allows the policyholder to borrow or withdraw money against the policy’s cash value. The cash value in this policy earns interest, and the policy is flexible to allow death benefit adjustments.
Variable Life Insurance
Variable life insurance is another permanent life insurance without a savings component but an investment component. Although this policy has a cash-value account, the amount contained is invested in different investment vehicles to multiply the insurance policy’s overall value. The overall payout upon the deceased’s death will depend on the performance of the underlying investment vehicles contained in the policy.
Burial/Funeral Insurance
Burial or funeral insurance is also known as a final expense. This type of insurance policy is permanent and intended to cover the policyholder’s funeral costs. Most policyholders often take this insurance as a separate unit to cover their burial costs, thus relieving their loved ones of the additional expense. It typically covers the cost of casket or urn, memorial service, and burial or cremation.
Survivorship/Joint Life Insurance
A survivorship life insurance policy is often entered into by two people, usually couples. This type of insurance provides coverage for both parties instead of one, and the benefits are only paid out to beneficiaries after both policyholders pass away. Unlike the first-to-die life insurance policies, both parties need to be declared deceased before the insurance payout can be made to named beneficiaries.
Mortgage Life Insurance
A mortgage life insurance is a term life insurance policy aimed at paying off mortgage debts and other associated costs following the policyholder’s demise. This type of life insurance policy is common among people who have homes on loan. It helps to secure the future of their loved ones by making sure that their home is paid for.
Credit Life Insurance
A credit life insurance policy is designed to help pay off the policyholder’s debts upon their demise. This type of insurance policy does not work the same way as the traditional insurance policy because its face value diminishes in proportion to the outstanding loan amount owed by the policyholder.
Supplemental Insurance
This insurance policy is taken out by an insured person to cover additional needs and risks. There are different types of supplemental insurance policies, including supplemental health insurance, cancer treatment insurance, lump-sum cancer insurance, lump-sum heart attack and stroke insurance, etc.
We can help you make sound, informed decisions about issues affecting your life insurance needs. Our philosophy is to fully understand your objectives and then translate them into solutions that provide assurance and peace of mind.
For more information, you can read our Life Insurance FAQs.