Life Insurance in Texas
Before deciding on a policy, it is always a good idea to contact a life insurance professional to help make sure you're aware of what your options are available. Each state has its own laws regarding life insurance and Texas is certainly no different. A licensed agent can help you do your research and find out more about the types of coverage that are available in the state where you live.
Three Steps to Help Get You Started
Step 1: What kind of coverage do I need? Basically, there are two types of insurance, term and permanent. Think term life insurance if you only want temporary financial protection. For example, until the mortgage is paid or the kids are out of college. Think permanent life insurance if I want to leave behind a legacy. For example, if you want to leave supplemental retirement income for a spouse, or tax-free money to your children or a charity.
Step 2: How much coverage do I need, you’ll want a death benefit that covers the following: • Final expenses (e.g., medical and funeral costs) • Mortgage payoff • College expenses for your kids • Income replacement
Step 3: Are my needs more complex life insurance needs may be more complicated, of course. Perhaps you want to use life insurance to transfer wealth or to transition a family business. Talk to your advisor or agent about the best solution for you.
If you have any questions or concerns about life insurance in general, don't hesitate to contact us today. As your insurance agency of choice, we are happy to work with you to help make sure that you and your family always have the types of coverage that will be truly beneficial.