Life insurance is not only a great safety net to have, but it’s also a great investment long-term to make sure your loved ones are well-protected upon your passing. When signing on for these policies, you want to make sure you’re aligned with a company that embraces you as a policyholder. William Penn Life Insurance Company is among the leaders in this marketplace, making sure as an insurer they have you properly protected. Here are a few things to know about the company and its coverage.
1. William Penn offers a variety of life insurance policies.
When signing onboard with any life insurance company, you want to make sure you’re evaluating quotes and premiums, as well as the insurance products that may be available to you. William Penn Life Insurance offers coverage with varying limits and differing level premiums to best suit the needs of you and your loved ones. Among the most common life insurance coverage options: whole life and term life insurance. Whole life insurance is effectively lifetime coverage, while term life coverage refers to protection for a certain number of years until the policy expires.
Beyond the usual universal life insurance or a term policy, insurers like William Penn have expanded their reach to include final expense coverage. Final expense insurance, also known as burial insurance, helps cover end-of-life costs, including funeral expenses, credit card debt, medical bills, and any other debt you don’t want to pass on to those closest to you. After debts are covered, any remaining funds can be used how your loved ones see most fit. Final expense insurance does not require a physical exam upon signup.
2. William Penn takes a new approach to the application process.
William Penn Life Insurance is about providing the amount of coverage that policyholders need while offering up affordable rates to deliver coverage for a period of time or a lifetime. Life insurance coverage can be a stressful search for some, but William Penn and its affiliates are committed to matching customers to the right policy for their situation. Medical history is taken into mind when shopping for term and whole life insurance policies. A physical examination is also required to make sure that the highest level of products can fit the risk.
William Penn Life Insurance offers financial protection for policyholders as well through whole or permanent life insurance. The policy’s cash value can be borrowed against for a loan to pay off any outstanding expenses before your passing. This is taken out of the death benefit that is paid out upon your passing. For some families, having this outlet helps to achieve some short-term financial goals upon completing payments at the best rate that is made available for families.
3. William Penn has a proven track record of financial aptitude.
When signing on for a life insurance policy, potential policyholders want to know they are tied to a company that offers financial security and a track record of complete payments and payouts. William Penn Life Insurance carries an A+ rating, considered superior under A.M. Best. William Penn also has an A+ through the Better Business Bureau, and an AA- through Standard and Poor, establishing a record of providing financial protection for millions of policyholders in the United States from coast to coast.
The right insurance company will ensure that whichever life insurance policy you sign on board for is giving you the coverage you want for the premium that you can afford. As time goes by, you may want to transfer from a cheaper term life insurance policy to a whole policy. William Penn makes sure that their policyholders are not hindered in that process and can get in on the best rates available.