Not sure where to start? Fill out our unique form and we will find the best life insurance for you.
If you are searching for Houston TX Life Insurance, don’t hesitate to contact the insurance experts at Best Life Insurance Houston Agency. With fifteen years of combined experience, our agents have your interests in mind when they make recommendations on which policies might suit your needs.
Best Life Insurance Houston Agency offers different types of life insurance policies at affordable rates. After you have spoken with your agent about your life circumstances and goals, they will help you find a policy that takes care of your family when the unexpected happens.
Types of Coverage
With so many life insurance policies on the market, it isn’t easy to know which one is right for you. Each policy has different benefits and payment options, so it is essential to choose one that will provide the most assistance to your family when the time comes. Let the insurance agents at Best Life Insurance Houston Agency assist you with selecting a Houston TX Life Insurance policy! For a free quote, check out our website.
Term life insurance is often chosen by individuals over a permanent life insurance policy because they are more flexible. A term life policy is typically available in ten, fifteen, and thirty-year terms. At the end of the term, you can choose to continue or halt your policy. Best Life Insurance Houston Agency also offers a temporary term life insurance policy.
So, how do you know which term is right for you? Most insurance agents suggest the following as a guideline to choosing, although it depends on an individual’s circumstances:
- 10-year term: for those with short-term loans, teens, or terminally ill patients in the family.
- 15-year term: for those with middle-school-age children, of retirement age, and small business owners.
- 30-year term: for families with young children, new homeowners, and those with long-term loans.
- Temporary: for families with older teens and short-term loans.
If you or a family member receives an unexpected diagnosis, term life insurance can give you peace of mind while you walk through that journey. Signing up for a ten-year term policy ensures that if you or a loved one unexpectedly passes, the family has the coverage they need. At the end of your policy term, you can choose to renew it for another term, let it expire, or select another policy. Our agents are here to help you find the right solution.
Universal Life Insurance is a type of insurance policy that has a savings account built into it. Because of this, the premiums and associated fees tend to be much higher. Few insurance agents will recommend this insurance policy to anyone other than a healthy, middle-aged adult.
Why is this the case? For the typical Houston TX Life Insurance policy, beneficiaries expect a death benefits payout when the covered individual passes. Universal Life Insurance does pay out the death benefits.
However, remember that savings account that’s built into the policy? If there is any cash value to that part of the account when the individual passes, the beneficiaries do not receive one penny of the savings. Instead, it goes to the insurance company. This is why it is not ideal for anyone above middle-age adulthood.
On the other hand, the savings account portion of a universal policy can be beneficial to someone who wants to build up their cash value. The savings portion of this policy can be withdrawn or borrowed from at any point. Essentially, it serves the same purpose as a regular savings account. Keep in mind that if the individual receiving coverage falls ill or passes unexpectedly, that savings portion will go to the insurance company.
Whole life policies, like universal, are permanent life insurance policies that have a cash value to them. Like universal, the savings portion of this type of insurance policy can be borrowed against, withdrawn, or canceled at any point. However, when you pass, the cash value goes to the insurance company and not to your beneficiaries.
Whole life insurance policies do pay out death benefits to the covered individual’s family when they pass. And, when you sign up for whole life insurance, you know what your premiums will be. This premium is divided between the cost of your life insurance policy and the cash value portion of the policy.
Guaranteed Issue Life
Guaranteed issue life insurance is what it sounds like: a policy that is guaranteed no matter the age or health status. While an exam is not required as part of this policy, it does help to have one. Doing so could result in better rates for you and benefits for your loved ones.
The coverage for this policy is not as high as most life insurance policies. However, it does guarantee that those individuals who have been denied for other policies have access to coverage. The majority of individuals who sign up for this plan are the elderly and terminally ill.
There are specific health problems that could disqualify you from receiving other, higher-paying insurance policies. For instance, diseases like cancer, HIV, Alzheimer’s, or chronic illnesses can result in denial of coverage.
In life insurance terms, ‘special considerations’ is an umbrella term used in reference to a variety of policies geared toward individuals with specific life circumstances. For instance, a special considerations policy allows an individual to set up a special needs trust for children who fit that profile. In the instance that the guardian of the special needs child passes, the trust can be used for the child’s care.
Other special considerations policies could include coverage for individuals with HIV, a history of smoking, and foreign nationals. Each of these policies has specific qualifications and requirements. As a result, it is best to contact an experienced life insurance agent and further discuss your options.
Houston TX Life Insurance
For more information about our business, personal, or retirement plans, contact the agents with over a decade of experience at Best Life Insurance Houston Agency. For your Houston TX Life Insurance policy, call us today!
Houston, TX Fun Facts:
- Downtown Houston has a tunnel system that is open to the public during the workweek.
- The museum district offers free admission to visitors on Thursday evenings.
- The Port of Houston is one of the largest in the nation.
- For more information about Houston, TX, visit the city’s website!