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Texas Life Insurance Types
Life insurance offers a way to replace the loss of income that occurs
when someone dies (usually the person who produces the majority of income
in a family situation). It is a contract between the insured person
and the company that is providing the insurance. If you die while the
contract is in force, the Texas life insurance company who provided you with a policy pays a specified sum of
money free of income tax to the person or persons you name as beneficiaries.
A good Texas life insurance program does more than just replace the loss of
income that occurs if you die. It should also provide money to cover
the new costs that arise such as funeral expenses, taxes, probate costs,
the need for housekeepers and child care, and so on. And these cash
benefits should provide for your family's future needs as well, including
college education for your children and part or all of your spouse's
retirement needs. In almost all cases, your beneficiary can use the
cash benefits in the way he or she sees fit, without restriction.
Here's a synopsis of some of the Texas life insurance types. For more information
on each type of insurance, click on the "More..." line or
the specific link in the left hand menu.
Whole
life insurance quotes and policies
This is insurance that protects you for your whole life, from the
day you purchase the policy until you die, as long as you pay the premiums.
It is also called permanent insurance. Whole life can be a solid foundation
upon which to build a long-term financial plan because it guarantees
lifetime protection for your family or business. More
on whole life insurance.
Term life insurance quotes and policies provided by Texas life insurance companies
This insurance is perhaps the most basic form of life insurance.
It usually provides affordable protection, often with a guaranteed premium,
for some period of time. If the insured should die while the life insurance policy
is in force, the face amount is paid to the named beneficiary. At the
end of the premium guarantee period, the insured can renew the coverage
at a higher premium. More
on term life insurance.
Variable life insurance provided by Texas life insurance companies
This combines life insurance benefits with the opportunity to invest
the policy’s cash value in professionally managed portfolios of
stocks, bonds and other securities, called subaccounts. The cash value
and death benefit of your Texas life insurance policy depend on the performance of the subaccounts
you select. More
on variable life insurance.
Other Texas life insurance
Other Texas life insurance policies provided by companies may have special features which allow flexibility as
to premiums and coverage. Some let you choose the death benefit you
want and the premium amount you can pay. The kind of insurance and coverage
period are determined by these choices.
To receive any
type of Texas life insurance quote today, just visit our "Life
Quote" section, fill out the form and a licensed
Texas life insurance agent will contact you directly.
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