Benchmark Benefits is a trusted life insurance provider in Salt Lake City, Provo, Ogden, and across Utah, offering financial security for your family during difficult times. From covering funeral expenses to managing debt, our policies ensure a stable future. With over 20 years of expertise, we help you choose the right term or whole life insurance plan tailored to your needs. Call us today to secure your family's future!
Benefits of Our Life Insurance
Financial Protection for Your Loved Ones
Life insurance provides a financial safety net, ensuring your family can maintain their lifestyle by covering daily expenses, mortgage payments, and education costs. Securing a policy safeguards their future, offering stability during difficult times.
Debt & Final Expense Coverage
Our life insurance in Salt Lake City, Provo, and Ogden helps cover medical bills, burial costs, and outstanding debts, relieving your loved ones of financial burdens. With Benchmark Benefits, you can ensure they remain financially secure.
Lifelong Financial Security & Cash Value Growth
Whole life insurance builds cash value over time, offering a tax-deferred savings component that can be accessed for emergencies or retirement. This added benefit makes life insurance both a financial safeguard and an asset.
Peace of Mind & Stress Reduction
Knowing your family’s financial future is secure brings peace of mind, allowing you to focus on what matters most. With Benchmark Benefits, you can rest easy knowing your loved ones are protected.
Understanding Term vs. Whole Life Insurance
Term Life Insurance
Term life insurance is a great option for families who have short-term financial obligations, such as paying off a mortgage or paying for college, because it provides affordable coverage for a fixed period, ranging from 10 to 30 years. If the policyholder dies while the insurance is active, the policy will pay out a benefit; otherwise, the coverage would terminate. You can provide your loved ones with simple, short-term financial protection with this economical solution.
Whole Life Insurance
With regular monthly payments, whole life insurance protects policyholders for the duration of their lives and allows them to draw against the policy's cash value in the event of financial hardship. Although it costs more than term life insurance, whole life insurance provides security for a longer period of time and can help with unexpected expenses. If you are seeking a long-term financial solution that is both secure and potentially grows in value, whole life insurance is a great choice.
Permanent Life Insurance Options
Universal Life Insurance
Lifetime protection with adjustable premiums—that's what universal life insurance is all about. Expenses like college or unexpected medical bills can be paid for using the money that grows in it at a set interest rate. You can manage your premiums and benefits with flexibility and lifetime protection with Benchmark Benefits.
Variable Life Insurance
With variable life insurance, you can invest your premiums in assets like stocks or bonds while still receiving lifetime coverage. Despite the inherent market risk, your policy's cash value has the potential to increase in response to investment returns. If you work with Benchmark Benefits, we will help you figure out how to best protect your assets while also putting you in a position to grow their value.
Supplemental Insurance & Policy Riders
Living Benefits Riders
A living benefits rider allows you to access a portion of your life insurance if you become seriously ill or need long-term care, easing financial strain. Benchmark Benefits offers this added protection to cover unexpected medical expenses.
Accidental Death & Dismemberment (AD&D)
AD&D coverage provides additional benefits in case of death or severe injury from an accident. This rider helps cover medical costs and lifestyle adjustments, giving you extra financial security during unexpected situations.
Steps to Get Started With Life Insurance
Getting life insurance may seem overwhelming, but Benchmark Benefits makes it simple. Our team guides you through the process to find the best policy for your needs, ensuring a smooth and stress-free experience.
Step 1: Assess Your Needs
First things first: write down your financial obligations, such as current bills, ongoing spending, and potential outlays for things like college. If you could no longer provide for your family, this will help you estimate how much they would need.
Step 2: Choose the Right Type of Policy
Consider whole life insurance for continuous protection plus cash value accumulation over time, or term life insurance for economical, time-limited coverage. Think about your short-term and long-term financial objectives while making a decision.
Step 3: Determine the Coverage Amount
Determine the amount of coverage you require by multiplying your income by 10 to 15 times, but make adjustments according to the size of your family and anticipated expenses. Pick a sum that will give your loved ones a solid financial foundation.
Step 4: Get Quotes From Multiple Providers
To get the best deal and coverage for your needs, compare quotes from several companies. If you want to get competitive options and you’re searching for a life insurance provider near me, Benchmark Benefits can make it easier for you.
Step 5: Understand the Policy Details
Before making a final decision, make sure you fully understand the policy's terms, premiums, benefits, and exclusions. Make sure you know what your coverage covers by asking any necessary questions.
Step 6: Apply for the Policy
Fill out the application to the best of your ability, including any necessary medical information and any results from any necessary exams. With this precision, future problems can be avoided.
Step 7: Review & Update Your Policy Regularly
The kind of coverage you require could alter depending on major life events like getting married or starting a family. It is important to evaluate your policy on a regular basis to make sure it continues to meet your family's changing financial needs.
Frequently Asked Questions
What are the different types of life insurance?
We offer several life insurance options, including:
- Term Life Insurance – Provides affordable coverage for a set period (10-30 years). Ideal for short-term needs like paying off a mortgage or funding education.
- Whole Life Insurance – Offers lifetime coverage with cash value accumulation that grows over time.
- Universal Life Insurance – Provides flexible premiums and lifelong protection, with an investment component.
- Variable Life Insurance – Allows you to invest part of your premiums in assets like stocks or bonds, with the potential for increased cash value.
How much life insurance coverage do I need?
The amount of coverage depends on your financial obligations, income, debts, and future expenses. A common rule of thumb is to have coverage 10-15 times your annual income to ensure your family is financially secure. Our experts at Benchmark Benefits will help calculate the right amount for you.
What is the difference between term life and whole life insurance?
- Term Life Insurance – Covers you for a specific period (e.g., 20 years). It’s affordable and ideal for temporary financial protection.
- Whole Life Insurance – Covers you for life and includes a cash value component that you can borrow against or use in retirement.
Can I customize my life insurance policy?
Yes! We offer policy riders that enhance coverage, including:
- Living Benefits Rider – Allows early access to funds in case of critical illness.
- Accidental Death & Dismemberment (AD&D) – Provides additional financial support if death or injury occurs due to an accident.
- Child or Spousal Riders – Extends coverage to family members.
How do I get started with a life insurance policy?
Enrolling is simple! Follow these steps:
- Assess your financial needs and determine how much coverage is right for you.
- Choose a policy type (term or whole life insurance) based on your goals.
- Get a free quote from Benchmark Benefits.
- Apply for coverage with expert guidance from our team.
- Regularly review your policy to ensure it meets your changing needs.
Experience the Care You Deserve Today!
Searching for an “insurance provider near me” or “life insurance near me”? Secure your legacy with Benchmark Benefits’ all-encompassing Life Insurance plans, customized to meet your family’s future needs in Salt Lake City, Ogden, or Provo, UT. With over 20 years of expertise, we’ll help you gain the ideal, affordable options, guaranteeing you get the coverage you truly deserve. Let us know how we can help you! Call us today and allow us to lead you to a policy that embodies the love and care you have for your cherished ones.