Factors that Affect Your Life Insurance Coverage

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Feb 252016
 

shutterstock_266411543Trying to understand your life insurance rate can be a bit confusing. Rest assured, you are not alone. The rate on your life insurance premium is determined by a variety of factors. To help you better comprehend how life insurance rates are decided upon, Soucy Insurance would like to highlight for you five of the most common factors used in determining your rate.

  1. The Policy Itself. The longer the term of the policy, the more you will pay for it. Long term policies are more expensive than short term, and whole/permanent life insurance is generally more expensive than term life insurance.
  2. Your Age. This is an incredibly important albeit simple factor. Your life insurance rate is typically less if you are young. This is why it is best to invest in life insurance at an early age.
  3. Your Current Health/Habits. People who are currently in good health will typically see lower rates. If you smoke or drink regularly, your life insurance premium may be higher than those who do not smoke. If you have recently quit smoking, you may qualify for lower rates in as little as one year. Certain hobbies such as skydiving, base jumping and paragliding may also contribute to higher premium rates.
  4. Your Occupation. Certain occupations that have a high risk of injury or accidental death may lead to increased rates or in some cases, no coverage at all.
  5. Your Family History. If you have a major family history of serious illnesses such as heart disease and cancer, which can be hereditary, you may pay more for life insurance.

At Soucy Insurance, we will do our best to find the life insurance coverage that best suits your specific needs. See for yourself the difference in working with an insurance agency with ten decades of experience. Visit us at www.soucyagency.com or call (401) 762-2218 for additional information.

Understanding the Value of an Independent Insurance Agent

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Feb 112016
 

Soucy Insurance Agency has proudly provided insurance coverage to our friends and neighbors for over 100 years. We are an independent agency, which means we can offer our clients more choices and better service. Working with dozens of carriers, we have the ability to shop for competitive solutions for all your personal and business insurance needs.

There are several benefits that come with choosing an independent agency:

  • We are Properly Certified and Regulated – As an independent agency, Soucy Insurance must meet all state regulations and accreditation standards. You can trust that your insurance will be managed by a licensed professional.
  • We Work To Save You Money – Soucy Insurance Agency provides more affordable rates because we are not beholden to one insurance company. We work with many companies, and when your insurance needs change you can rely on your independent agent to be with you every step of the way.
  • High Standards of Service – We offer a wide range of insurance products – home, renters, auto, business, life and health – to bring the most value to our clients.
  • Community Support – As a local, small business, we have strong customer and community ties. We are cognizant of all state and local laws and work hard to keep you informed.
  • Claim Assistance – While we hope you never experience a claim, we are there to guide you through the process should you need us. We will keep you informed regarding your claim status and address any concerns you may have.

If you have any questions regarding our insurance coverages, please do not hesitate to contact us at (401) 762-2218 or stop by our office. We offer extended office hours Monday through Friday from 8:30 am to 5:00 pm.