As your life changes so do life insurance policies change over time which makes it important that you review your existing plans every couple of years to determine if you need to adjust your plan to serve more of your needs.
We represent the top Life Insurance companies. We will work with you to find the right policy that helps you attain your goals and protect you when you need it the most.
Get a Quote Today, Call (469) 899-3917
There are three main types of life insurance: Term Life, Universal and Whole Life Insurance. Term Life Insurance is the easiest to understand and has the most affordable cost. Did you know there's a new kind of life insurance that has living benefits? Insurance you can use while your living!
Term Life Insurance Basics:
- Coverage for a “term” or period of your life.
- Lower premiums for higher coverage.
- Rates can change after specific terms expire.
- No equity – cannot be used as cash value.
It’s a permanent life insurance option with lots of flexibility built in with the two most popular types are fixed and indexed:
- You can adjust the face amount of your policy, and the premiums you pay
- Build cash value without paying current income taxes on the increases and you can potentially access the funds using tax-free loans and withdrawals.
- Flexibility allows you to stop paying premiums if there is enough accumulated value in your policy to cover the cost of insurance each month. (You can then pay additional premiums to build back up accumulated cash value)
- Depending on the carrier, you may increase or decrease your death benefit depending on your life insurance needs. An increase may require additional underwriting.
- Fixed Universal Life – interest rate is declared by the company Indexed Universal Life – interest is based on the changes in value of a major market index
Whole Life Insurance Basics:
- Exactly like it says – permanent, not for a specific period.
- Protection carries with you, your whole life.
- Can build equity and have cash value.
- Higher premiums than term life but can be more valuable in the long run.