Personal and Commercial Texas Auto Insurance Specialist
HENDERSON
INSURANCE AGENCY
972-840-0700
Life Insurance
Life insurance is a very important aspect of a responsible financial plan. Being a source of income for your family, it is important to protect them financially when you are no longer available to care for them. Purchasing a life insurance policy offers that protection..
A common misbelief is that buying a life insurance policy is very expensive. This is usually not the case, but keep in mind that the longer you wait to purchase a policy; the more your Texas Life Insurance policy will cost.
And because of this misbelief, many people procrastinate buying life insurance. Some put it off for years, others wait until it is really needed, but unfortunately it may be too late.
There many life insurance plans available, but the two basic Texas Life Insurance Plans are:
Texas Term Life Insurance - Provides insurance coverage during a specific period of time (term). The term length of which the a person is insurance is stated on the declaration page of the policy. Usually, terms can be purchased for 5, 10, 15, and even 30 year periods. A term policy pays the beneficiary the amount of coverage that is stated on the policy, but the insured death must occur within the specified term period.
Some people purchase a term policy to hedge against purchases and expenditures such as a child's college tuition and a mortgage note. In case of death, the policy may provide enough income to pay for these expenses.
There is no beneficiary payment made by the insurance company if the insured outlives the term of the policy.
Texas Whole Life Insurance - Provides insurance coverage throughout the life of the insurer. Because there is no end to the insurance coverage, a whole life insurance policy is usually more expensive than a term life insurance policy. A portion of the whole life insurance policy have a cash value vehicle. This part of the policy accrues a monetary value that is available that you may be able to receive as a cashed dividend, to pay for future premiums.
.
There are additional coverages such as Variable Life, Universal Life, and Variable Universal Life Insurance available. For additional information on these and other options that you may be eligible for, contact a Life Insurance Specialist today.
Protect your family - Call us today for affordable life insurance coverage and save.
