Life Insurance and Annuities
As your personal situations change (i.e., marriage, the birth of a child or job promotion), so will your life insurance needs. Care should be taken to ensure this product is suitable for your long-term life insurance needs. You should weigh any associated costs before making a purchase. Life insurance has fees and charges associated with it that include costs of insurance that vary with such characteristics of the insured as gender, health, and age, and has additional charges for riders that customize a policy to fit your individual needs.
Find out which type of insurance may be right for you. Focus on life: protecting your family, your finances, and your future.
Life insurance can be used for many purposes— to cover your final expenses, to leave a legacy to your heirs, or even to earn cash value that you can withdraw or borrow against later. Tell us what you want to get out of it, and we’ll tell you what type of policy best suits your needs.
Just keep in mind that investing involves market risk, including the risk of loss of principal. Take care to ensure that permanent life insurance is suitable for your long-term life insurance needs. You should weigh any associated costs before making a purchase.
Give us a call at 281-395-9400.
Four Good Reasons to Have Life Insurance
Think you don’t need life insurance if you don’t have kids? Think again. It may seem like an unnecessary expense. But there are many reasons to have life insurance, even if you’re not supporting a family.
1. Mortgage Protection
Whether you live by yourself, with a spouse or significant other, you may want to buy life insurance as mortgage protection. Think about it – you don’t want the person you live with to be homeless if you die unexpectedly, do you?
Term life insurance can be used to pay off an outstanding mortgage balance. Just select a term that matches the length of your mortgage payment period. Some companies even offer decreasing term insurance, which means the death benefit decreases along with your mortgage balance.
2. Income Replacement
You and your significant other may have planned for a future based on two incomes – but what if one of you passes away unexpectedly? Life insurance can be used to replace the lost income so the survivor can maintain the same standard of living.
3. Final Expenses
You’ve seen the commercials – funeral expenses, burial costs, and medical bills can add up to a hefty amount. The last thing you want is for your loved ones to shoulder this extra burden. Life insurance can be used to plan for these final expenses. Permanent life insurance is available in various amounts, so you can pick a death benefit that meets your needs.
4. College Funding
Life insurance can help fund a college education. This one only applies if you have kids, but have you seen the tuition rates lately? If you die, the death benefit may be invested and potentially grow to the needed amount by the time your children reach college age. Feel better knowing that you helped prepare for their future – even if you are not there to see it.
The Earlier the Better
So maybe you’re starting to see the need for life insurance … and you’ll call your agent next week, right? Don’t put it off! Typically, the younger you are when you get insurance, the lower the cost and the easier to get approved.