MSM Insurance Agency Inc. is here to help Kearny, NJ residents and those in the surrounding area find the necessary protection. For example, we can help you find life insurance options that fit your coverage needs and pay out money in a way that makes sense for you.

Insurance Covers Whatever the Beneficiary Wants

All life insurance policies choose a beneficiary to whom the policy pays out. These could be a person, such as a spouse, children, or entities. These include charities, trusts, businesses, and other groups. Thankfully, you can often choose multiple beneficiaries if you like.

Once the money is paid out to these entities, they can literally do with it whatever they want. Some will use it to pay burial costs, while others might pay off your debts. They can also use it to help with college, mortgage, and everyday expenses, including groceries.

Payout Options Vary

Often, life insurance is paid out in one lump-sum payment, i.e., all at once. This is NOT taxable income, which makes it a popular option. However, there are also options like asset accounts that earn interest, life income payouts that pay off guaranteed payments for life, and more.

Some people prefer this approach because they can get smaller payments for a specific period or even the rest of their lives. That’s a guaranteed income that, depending on the policy, can be a nice thing to possess. Note that not all policies provide extensive payouts that last for life.

Let Us Know What You Need

MSM Insurance Agency Inc. is here to help Kearny, NJ residents identify life insurance policies that make the most sense for them. Not every policy works equally well for everybody, so don’t be afraid to be careful and talk with us about the best opportunities for your specific needs.