- Phone: 208-682-4924
A Capital Financial Group Company 
Life insurance can be considered an essential tool for financial planning, and it can be useful to have in a number of situations. This insurance can substitute income that your family depends on, helps pay any last expenses, helps provide an inheritance, pays off any debt or death taxes, and can even create a source of savings.
Types of Life Insurance
There are two types of life insurance to consider: term and whole life policies. Term life policies only last for a specified duration, which can range from 10 to 30 years. Once the policy expires, benefits won’t be paid out unless the policy is renewed. Whole life policies will provide coverage that lasts a lifetime, and there are different types of whole life policies available. Some of these policies will pay out benefits before death for certain conditions. Since there are a number of different life insurance policies to consider, speak with an agent at West Valley Insurance to find one that suits your needs.
Life insurance rights are protected under Title 41 of the Idaho State Statutes. Residents of the state have a 30-day grace period after a missed payment, where the policy will still be in effect, and the company will have to pay a death claim if death happens during this time. This period also helps prevent a lapse in coverage and the policy must continue if the payment is made within the 30-day period. Residents also have a longer than normal free look period, where they can return the policy for a full refund. If death occurs during this period, the claim is valid and will be paid out. All claims must be paid within 60 days to meet the timely manner that is required under the title. The state would reimburse the policyholder if an insurance company were to go bankrupt.
Contact West Valley Insurance to get a quote on life insurance.