Life insurance is designed to provide financial security to your loved ones after you pass away. A customer pays into the plan for a specified amount of time, and if he dies during that policy period his beneficiaries would receive the agreed-upon amount. Some people choose to purchase a policy to cover the costs associated with death itself, such as funeral costs and outstanding medical bills while others opt for a policy with enough benefits to pay off any debt they have and pay for their spouse or children to live comfortably for several months or years. Regardless of what you decide to do with your life insurance policy, it’s important to select a company that meets your needs. The best life insurance companies offer affordable plans with generous benefits, as well as provide quality customer service.
About ING Life Insurance
ING life insurance is a competitive company in the life insurance market. With the ability to combine multiple policies and investment schemes, ING representatives are able to provide a customized and inclusive package for all policy-holders. Plans are comprehensive and made to suit the needs of the insured, no matter what the specifications of the policy are. Depending upon your unique financial needs, the representatives will help you craft a policy that will fulfill those duties. ING offers three types of policies:
Term Life Insurance
These policies run for a pre-determined amount of time from one to thirty years and pay out only if the insured dies during the insured term. Terms may be limited by age, preexisting conditions, and financial constraints; funds in a term policy cannot be converted into cash under any circumstance. Term life insurance policies are less expensive than other types of policies, but it may be difficult to take out a second policy after the first expires.
Universal Life Insurance
Unlike term policies, universal life insurance does have cash value. With a universal policy, any money that you pay in premiums over the amount specified for benefits will be added to the cash value of the policy. The interest from this invested amount can be used to pay the policy premiums. These policies will not lapse due to missed payments. Universal life insurance will be more expensive than a term plan, and the average customer will probably not need universal life; for some people however, especially those with many assets to protect, universal life can be a wise investment.
Variable Life Insurance
Similar to a universal plan, a variable life insurance plan also earns interest according to the variable interest rate determined when the policy is purchased. With one of these policies, the interest gained from the investment can be used in several types of accounts, similar to mutual funds. Variable policies may be more expensive than universal, or may be competitive, depending upon the exact details of the policy you choose.
ING Life Insurance Review
ING offers many other features that help it stand out from the competition. For example, offices are located nationwide, with plenty of information and planning tools also available online. ING caters to small business owners with unique policy offerings and employee benefits packages.
Additionally, ING offers many tools for financial planning aside from life insurance policies: retirement funds, estate planning, investment portfolios, mutual funds, and other financial services. In this regard, ING stands out from many other life insurance companies that only offer limited service.
ING Customer Service Review
ING’s staff is responsive and the customer service is highly rated by most consumers. Generally offices are easier to find in metropolitan areas than in rural communities, but policies can be purchased online to alleviate this difficulty if you live outside of a major city. Overall, ING is one of the top-rated life insurance providers on the market, but they may not be the best choice for you. Ultimately, it’s up to you to decide whether any company is the best fit for your needs and your budget.
When choosing an insurance policy, you should consider what your needs and expectations are. An individual looking to provide for his family in the event of his untimely death will have different needs from someone who has a substantial financial legacy to protect. The exact cost of your life insurance will depend upon your health, age, lifestyle, and many other factors the insurance company takes into account. Balancing benefits with cost is the best way to ensure you are selecting the best life insurance, whether you purchase it with ING or a competitor.
When purchasing a policy, take the time to discuss your needs with the insurance representative; they will help you select a policy that will provide the coverage you need to take care of your family and give you the security you need.
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