Life Insurance in Texas
Who Needs Life Insurance?
Just about anyone needs life insurance, especially if anyone relies on you financially. Life insurance pays your beneficiary when you pass away so they can pay bills, pay for your final expenses and many other items. If your income will need to be replaced to take care of your spouse and children, if you have a debt of any kind or you want to help pay for your children's college you should secure life insurance. Your family may need help to pay for your funeral or you have a considerable estate that can be subject to state or federal estate taxes or if you may want to leave money to a charity, then you need life insurance.
What are the Types of Life Insurance in Texas?
The different types of life insurance in Texas are term life, permanent life, a combination of these two types and accidental death and dismemberment. We offer all the types of life insurance at Alloy Insurance Partners LLC.
Term life insurance can be an annual renewable term that is for one year at a time and the premium adjusts each year. You can also opt for a level term of five, 10, 15, 20 or more years to guarantee the premium at the same price for the entire term you purchase.
Permanent life insurance has higher premiums because it provides coverage for your entire life. This type of life insurance policy has a cash or cash value savings feature that grows and it can be invested, borrowed against or withdrawn or it can be used to keep paying your life insurance premiums after retirement when you have less income.
We at Alloy Insurance Partners, LLC are here to help you decide which type of life insurance is best for your particular situation in Texas. We are highly experienced and can help you with coverage amounts and types that are best for you. Call us or come by for a consultation.