Term Life Insurance Policy | Best Life Insurance Houston Agency

If you are searching for a Houston TX Term Life Insurance Policy, look no further than Best Life Insurance Houston Agency. Our agents have a combined fifteen years of experience providing clients with life insurance policies that give them peace of mind for the future. We evaluate your financial obligations and life circumstances and make our recommendations based on these factors.

Life insurance is meant to provide replacement income and financial assistance for funeral costs when a loved one dies. The covered party names a beneficiary when they purchase the policy, and that person, or persons, receives death benefits.

There are many types of life insurance policies, each with its own qualifications and benefits. However, term life insurance is often suggested by agents because it is a great option for individuals of all ages and life circumstances.

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Term Life Insurance Explained

Term life insurance is a policy that exists for a specified amount of years or a term. The majority of term life policies are set for ten, fifteen, or thirty years. However, your insurance agent might be able to set you up for another time frame.

The term you select will be dependent on your current financial obligations as well as your life situation. The number of children you have, short or long-term loans, and your age are just a few elements that will factor into this decision and what you qualify for. At the end of a term policy, you can choose to renew it or opt for another type of Houston TX Term Life Insurance Policy.

Life can take unexpected turns at any moment, so it’s best to be prepared. If you were to receive a life-threatening diagnosis tomorrow, would your family be taken care of when you pass? As difficult as these things are to consider, they must be considered sooner rather than later.

Frequently Asked Questions:

How Do I Choose a Term Length?

The ideal term length will depend on your current financial obligations and the kind of debt you have if any. Typically, if you have a short-term loan, a shorter-term life policy is a great option.

Similarly, if you have a 30-year mortgage on your home, have a 30-year term life policy will ensure that if anything happens to you, those debts can be paid off by your beneficiaries.

The following are general guidelines for choosing your term length. Keep in mind that your unique situation will govern the benefits and conditions you qualify for.

10-year term: If you have teens in your family, short-term loans, or a terminal illness.
15-year term: For families with middle-school kids, long-term loans, or adults who are of retirement age.
30-year term: Usually the best option for new homeowners, families with young children, and for those with long-term loans (like a 30-year mortgage)
Temporary term: For those with older teens that will be graduating soon and able to provide for themselves. Ideal for adults with short-term loans.

Do I Have Coverage Options?

Yes! There are several types of term life policies to choose from, including:

Level Term– A policy where the premium and death benefit amount remains level and does not increase for the duration of the policy’s term.
Decreasing Term– As your debt amount decreases, so to can your death benefits package on your term life policy. Life insurance helps your beneficiaries pay off the remaining debt under your name in the instance of your passing. A decreasing term life policy ensures they can pay off the remainder of the debt that you owe but also allows you to lower the amount of benefits they will receive.
Guaranteed Issue Term– For this type of term life policy, no medical exam is required! Under this policy, individuals who have previously been denied coverage elsewhere can receive it. Cancer patients, individuals with HIV, and those with chronic illnesses can receive a guarantee of acceptance when they apply for this policy.
Convertible Term– When you purchase a convertible term life policy, you can convert it to a permanent life policy once the term has ended. Keep in mind that with the transition will come much higher premiums.
Voluntary or Group Term– Some employers provide their workforce with a life insurance option under a group term policy. This policy is a voluntary one, so there is no obligation to join it. However, it never hurts to compare what this policy offers with what you can receive elsewhere for a budget-friendly price. Most employers that offer this type of policy will pay the premiums in full.

Scheduling a medical exam can help keep your Houston TX Term Life Insurance Policy rates low.

Will a Medical Condition Disqualify Me?

Regular whole life or permanent life insurance policies will likely disqualify you, depending on the condition. Things like a terminal or chronic illness or a history of smoking can be grounds for denial. On the other hand, there are a few exceptions.

A guaranteed issue life insurance policy or a special considerations policy can offer you the coverage you deserve and need for a price that is affordable. Although the benefits from these policies aren’t typically as high, they still provide a safety net for your loved ones if you pass.

Do I Need a Medical Exam?

Most life insurance policies will require you to have a medical exam. Furthermore, even if it is not required, getting one can help keep your premiums low and get you the maximum amount of benefits for your investment.

Houston TX Term Life Insurance Policy

For more information about our business, personal, or retirement policies, see our website! Furthermore, you can call our team and request a free quote. Let Best Life Insurance Houston Agency prepare a Houston TX Term Life Insurance Policy for you!

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