Life Insurance

Life Insurance in Michigan

Life insurance is a smart choice for individuals and families in Michigan who want to ensure financial protection for their loved ones in the event of an unexpected death. At Steenland Kacos Insurance Agency, we understand that your family's well-being is your top priority, and we can help you customize a life insurance policy that fits your unique needs and budget. Our experienced agents can guide you through the process of selecting the right coverage in order to provide you peace of mind and financial security for your loved ones. With life insurance, you can rest assured that your family will be able to cover living expenses, pay off debts, or achieve other financial goals if you are no longer there to provide for them. Contact us today to learn more about how life insurance can benefit you and your family.

Life Insurance Requirements

Life insurance is not legally required in the state of Michigan. It is optional but still highly recommended.

Life Insurance Coverage

Beneficiaries can spend the death benefit however they’d like.

Here are the available options for life insurance:

Term Life Insurance

This is the most common type of life insurance because it is pretty straightforward and will last as long as you need it to before expiring. You are responsible for making the monthly payment until you pass away.

Whole Life Insurance

This is a common type of permanent life insurance due to its duration. It is simply life insurance with a cash value that earns interest. With whole life insurance, you are guaranteed a death benefit, with interest accumulating over time.

Universal Life Insurance

Universal life insurance is considered a permanent yet flexible policy that allows you to increase or reduce the amount of your monthly premium. The changes that you make will have a direct impact on the cash value of your policy.

If you want flexibility, this life insurance is the perfect option.

Variable Life Insurance

This is another type of permanent life insurance that enables policyholders to invest their money from their cash value into other funds, such as mutual funds.

Variable life insurance has a minimum death benefit guaranteed to all policyholders. However, market conditions will directly impact the amount of cash value that your beneficiaries receive.

Quotes

If you are interested in receiving a life insurance quote, call us here at Steenland Kacos Insurance Agency. We are located in Grandville, MI.

FAQS

How does auto insurance work?

Auto insurance protects you financially by covering the costs of damage or injuries from a vehicle accident or theft. It is a contract between you and the insurance company, where you agree to pay the premium, and the insurance company agrees to pay your losses as defined in your policy.

What is umbrella insurance?

Umbrella insurance provides additional liability coverage above the limits of your homeowners, auto, and boat insurance policies. It kicks in when the liability on these other policies has been exhausted, offering an extra safety net of protection.

Why do I need liability insurance on my policy?

Liability insurance is critical because it covers legal costs and payouts for which you are found legally responsible. Without it, you could be faced with paying out of pocket for costly damages or medical bills.

How can I save on home insurance?

Maximizing savings on home insurance can be achieved by comparing policies, increasing deductibles, and ensuring your home has up-to-date safety features. Regular reviews of your policy can also uncover other potential savings.

What factors affect my auto insurance rates?

Several factors can affect your rates, including your age, driving history, and the type of vehicle you drive. Rates are also impacted by where you live, as different areas have varying risks of theft and accidents.