Life Insurance in Texas
Life insurance in New Braunfels, TX provides protection for those that rely on your income after you pass. If you have life insurance, then the policy makes a payment after your death to the beneficiary you name in the policy. Beneficiaries are able to use the money for living expenses, pay bills, pay off debts, or other things. Some different policies will also allow you to build savings that you are able to use while you are alive.
Should You Get Life Insurance in Texas?
Not everybody will benefit from having a life insurance policy in New Braunfels, TX, but it is usually recommended if you have people who rely on your finances. There is no easy way to figure out how much insurance you should have. You should consider your amount of income you need to replace, debts, and what expenses your family will have. An agent at Allen Jones Insurance Agency can help you determine how much you should have for your individual circumstances.
Different Types of Life Insurance in Texas
There are two main types of life insurance to consider: permanent and term life insurance.
Term life insurance gives you insurance for a set period. The term can be something you set. With these policies, your beneficiaries are paid a lump sum after your death. If you don’t die during the term then the policy ends, unless you renew it. These policies won’t provide you coverage for your entire life but most people who benefit from these policies only want coverage for a specific period of time. Premiums stay the same for your entire term but do go up if you renew at the end.
Permanent life insurance will stay in effect your whole life and allow you to build some savings over time. You can or withdraw, borrow, or invest from these savings. It does take several years to build any cash value.
Contact Allen Jones Insurance Agency to get a quote on life insurance.