Life Insurance
Life insurance may offer peace of mind by providing financial support to your loved ones after your death. When you pass away, a lump sum—known as a death benefit—is paid to your chosen beneficiaries. This benefit is funded through the premiums you pay, either annually or monthly.
Types of Life Insurance 
Depending on your needs and the insurer, there are different types of life insurance available, including:
- Term life insurance may provide coverage for a set period (e.g., 10, 20 or 30 years). You may renew your policy once it expires. If the loss occurs during the term, your beneficiaries will receive the payout. If the policy expires before that, your coverage ends and you may need to reapply.
- Whole life insurance may cover you throughout your lifetime, provided premiums are paid. It also builds cash value, which may serve as an income source while you’re still alive.
- Universal life insurance is a type of permanent life insurance that may come with investment savings. With this policy, you may adjust your premiums within specific limits.
- Group life insurance may be offered by companies to their employees. It may have a low coverage amount.
How Is Life Insurance Paid Out?
A life insurance policy pays out after a valid claim is filed and approved. To keep your policy active, you must maintain premium payments. Upon your passing, your beneficiaries must submit a claim with appropriate documentation. Some exclusions may apply; for example, many policies include a suicide clause during the first two years of coverage.
Where to Get Life Insurance
Contact Sunstar Insurance Tennessee today to learn more or request a quote. We’re proudly serving several areas in Tennessee, including Jackson, McKenzie, Humboldt, Martin, Memphis, Columbia, Franklin and Murfreesboro.