Heading out on a road trip or wondering about the status of your claim? No need to wait until business hours or a call back to receive the information that is most important to you. Germania can be wherever you are with the Germania Insurance app! Compatible with both Apple and Android devices, the Germania Insurance app expands upon key features already available through your online account at germaniainsurance.com, such as making payments and filing claims. Download the app to take advantage of these great features: • Pay your bill and view payment history • Sign up for Auto Pay through a credit/debit card or electronic funds withdrawal • File and view the status of a claim • View and print policy documents, including auto ID cards • Contact your agent and roadside assistance (if included in your policy) with one-tap dialing • Update your contact information Additionally, you can learn about the latest deals and discounts available exclusively for Germania Insurance policyholders. The app is available to download for free on the Apple App and Google Play stores by searching “Germania Insurance.” Sign in or register as a new user today! Wherever you are with the Germania Insurance app
This policy stays with the child through their whole life and gives them the ability to take out additional coverage amounts at various times in their life, regardless of their health. Other types of permanent life insurance options for young children are whole life policies like Economy Whole Life and Participating Whole Life. Both offer coverage for life while gaining cash value over time. However, the Participating Whole Life has a non-guaranteed dividend option that allows the policy to grow in death benefit on an annual basis while still gaining cash value. Retirement Many people don’t account for the fact that life insurance policies provided through an employer as part of a benefit package cease when they retire. If your employer provides a life insurance benefit, it’s important to reevaluate your coverage as you near retirement. During this stage of your life, it’s often valuable to perform Continued from page 5... Insurance for every season of life: What type of life insurance is right for you?
a self-assessment, or consult with your financial advisor, to determine exactly how much debt you may leave your spouse and loved ones if you are no longer able to financially contribute. Depending on your debt and financial obligations you have upon retirement, and depending on your retirement planning, both term and whole life insurance policies might be a good fit. Those who may still have some debt remaining may find a shorter term policy to be the best option. Whole life could be a better fit for those who only need a small
amount of coverage after retirement.
End of life Facing and planning for the final seasons of life is never easy, and it is often an uncomfortable topic to think about or discuss. However, for the sake of your loved ones, it is important to begin planning for this stage earlier rather than later. This is because declining health is often associated with the later years of life, and as such, it may be difficult or cost prohibitive to get the life insurance coverage you need. Certain whole life plans can be made to perfectly address these issues and provide coverage for end-of-life expenses, such as funerals. Funeral costs can be expensive; the average cost of funeral services in Texas is between $7,000 and $12,000, not including medical expenses. Some whole life plans are available for individuals between the ages of 49 and 85 who may have health concerns that limit their ability to purchase other types of coverage. These policies have smaller guaranteed death benefits but have a simplified underwriting process that doesn’t typically require a medical exam. The first step to finding the life insurance policy that works for you and your stage of life is to reach out to your insurance provider or agent. They will work with you to understand your individual needs and help you find a product that best addresses them. To learn how Germania Life can help you find a policy for the seasons of your life, call 1-800-392-2202, ext. 2060, or visit www.germaniainsurance. com/texas-insurance/life-insurance!
10 | Germania Today
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