Lana Insurance Center Inc

1259 South Broad St
Wallingford, CT 06492

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I Have A Life Insurance Policy Through My Job. Do I Need To Buy Another One?

Many people have life insurance policies through their jobs. This is a great way to get coverage since it is usually cheaper than buying a policy on your own. But is this the only policy you need? Probably not. In most cases, having two life insurance policies is better than having just one.

Here are some reasons why:

Your Work Policy May Not Be Enough

The policy that your employer provides is probably not enough to cover all of your expenses if you die. Most work policies only pay out a few hundred thousand dollars, which may not be enough to cover things like your mortgage, college tuition for your children, or other debts and final expenses.

You May Not Be Covered If You Leave Your Job

If you leave your job, your life insurance policy will usually go with you. But there are some exceptions. For example, if you retire or are fired, you may not be able to keep your policy. So it’s vital to have a second policy that is not through your employer in case you lose your first one. Talk to Lana Insurance Center Inc. in Wallingford, CT to understand more about getting additional insurance in case you lose your job.

You May Want Different Types of Coverage

Employer-provided life insurance policies are usually "term life" policies. This means they only provide coverage for a certain period, such as five or ten years. But you may want a "whole life" policy, which provides coverage for your entire life. Or you may want a "universal life" policy, a type of whole life policy with more flexibility. So if you want different types of coverage, you may need to purchase more than one policy.

Contact Us Today

As you can see, there are many good reasons to have two life insurance policies. If you have a policy through your job, that’s great. But don’t stop there. Get a second policy from Lana Insurance Center Inc. in Wallingford, CT to ensure you and your family are fully protected.

Why You Need Condo Insurance

When you own a condo, you have a home that is yours for as long as you want to keep it. It’s important to cover that investment with a condo insurance policy. This type of policy covers you in a number of ways all in one insurance policy. When you have a condo and aren’t insured, call us at Lana Insurance Center Inc. in Wallingford, CT to help you get started. 

Why You Need Condo Insurance

Protection for Your Condo

Your condo is likely your largest investment, and it needs to be protected with an insurance policy. Your condo insurance will cover the condo itself with enough protection to pay for large repairs, or even rebuilding if it’s needed. When you have this insurance and a covered incident happens that damages your condo, the policy pays for the necessary repairs. This is vital coverage to have with the high cost of repairs. 

Protection for Your Belongings

It’s important to have this coverage because it protects your possessions as well. When you have this coverage, it can pay for your possessions that are lost in a damaging incident. Issues like disasters and accidents can happen, and they can ruin your belongings. When you have a damaging incident occur, you could be left with nothing if you don’t have this coverage in place. 

Liability Protection

Condo insurance also gives you an amount in liability coverage. This protects you in case someone comes into your condo and has an accident with injuries there. This coverage pays for the expenses of this person, including lost wages and medical bills. It’s always smart to have this coverage in place so that you don’t have to face paying for these expenses by yourself. 

Get Your Condo Insurance

If you own a condo, it should be protected. To get started, call us at Lana Insurance Center Inc. serving the greater Wallingford, CT community. 

How Does Life Insurance Protect Me?

Investing in life insurance is a sound financial decision but an emotional one too. It’s a challenging topic to talk about, but it gives comfort when you know it protects the financial interests of your loved ones when you pass on. 

Still not sure how life insurance protects you? Lana Insurance Center Inc. shares more insights.

Provides financial well-being to your loved ones

If your dependents rely on your income to pay financial obligations like child care, college fees, and monthly bills, life insurance replaces your income when you die. This way, your loved ones can meet their financial obligations even in your absence.

Pays for your debts

If you have a mortgage, car loan, or credit card, you don’t have to pass the financial burden to your cosigners and loved ones upon your demise. Proceeds from life insurance can be used to settle financial obligations. Besides, life insurance enables you to pay for final expenses, lessening the financial burden on those you leave behind.

Keep the business in the family

Life insurance isn’t all about individuals. It’s pivotal for business owners. Life insurance proceeds can pay outstanding business loans as well as buying your business partners time to think of the next course of action after your death.

Besides, life insurance ensures that your business can be passed to your family. Life insurance covers costs related to transferring your business legacy to your beneficiaries.  

It supplements your retirement income

When you invest in a permanent life insurance plan, it accumulates a cash value that you can borrow against or make withdrawals to cater for emergencies. While most people think life insurance comes into play when they die, it has “living benefits” that you can enjoy while here on earth.

Are you ready to get started with life insurance? We encourage you to contact Lana Insurance Center Inc. to kick-start the conversation.

Life Insurance Coverage Options

As we all grow older, we realize how important having a life insurance policy in place is to our loved ones that we will leave behind. There are various types of life insurance policies, and the life insurance agents at the Lana Insurance Center Inc. can help you determine which type is best for you and your loved ones.

Below is a list of the three main types of life insurance policies that you can choose from.

Term Life Insurance

Term insurance is the simplest type of life insurance, and it only pays out if the death of the person who purchased the policy dies during the period of time it is in effect. It usually pays a death benefit during the length of the term of the policy from one to thirty years. There are normally no other benefits of a term life insurance policy.

Whole Life Insurance

Whole life, also known as permanent insurance, will pay out a death benefit whenever you die. There are three major types of whole life insurance, including traditional whole life, variable universal life, and universal life. There are several versions of each of the three types.

Universal Life Insurance

Universal life insurance is a type of permanent life insurance that offers an investment-type savings account with it. It is one of the least expensive types of life insurance to obtain. Only the beneficiaries of the policy will receive the death benefit.     

There are several other life insurance policies for you to choose from, including variable universal life insurance, guaranteed issue life insurance, accidental death insurance, medically underwritten term life insurance, simplified issue term life insurance, return of premium term life insurance, and permanent life insurance. The life insurance agents at the Lana Insurance Center Inc. can help you decide which type is best for you and your situation, so call for an appointment today!

3 Reasons to Personalize Your Life Insurance with an Agent

Personalized Life Insurance

Life insurance doesn’t need to be complicated. In fact, if you personalize your insurance with your agent to meet your needs, you will know exactly what you are getting. That’s why it’s ideal to talk to an expert at the Lana Insurance Center of the greater Wallingford, CT area. 

Some Benefits to Customizing Your Life Insurance

There are 3 common reasons you should sit down and talk with an independent agent to determine your life insurance policy’s details. 

Customer Service Is Better

When you visit an independent agency, you can get answers to your coverage questions or assistance with an insurance claim quicker and from a live person. Whether you call, send an email, or make an appointment to discuss matters in the office, you’ll have peace of mind knowing that you’re getting solid answers that reflect your specific situation. 

Community Involvement

When you’re going through an agency in your area, you know they have a vested interest in your community. They may support youth sports, have staff who serve as members on the boards of non-profit organizations, and otherwise know a great deal about the area to better assist you when it comes to recommendations and more. 

Optimal Advocacy 

An independent agent will advocate for you when it comes to issues that arise. It could be a problem with billing, a mistake with your policy, or some other concern with your coverage. You’ll be able to talk to someone and get it cleared up fairly quickly. 

Affordable Life Insurance in Wallingford, CT

If you are looking to purchase life insurance, contact us at Lana Insurance Center of Wallingford, CT. Our team of agents can help you get the best policy to match your needs. We look forward to serving you.

Our Partners
  • Guard
  • Liberty Mutual
  • Metlife
  • Nationwide
  • Progressive
  • State Auto
  • Travelers