You might want to review your life insurance coverage if you:
have a new baby
care for aging parents
change your marital status
buy a new or second home
change your job status
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Ask us about our home and auto discounts!
Call us!
281-357-5200
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Term Coverage Options
What Do You Want from Your Life Policy?
There are two types of life insurance available today: term and permanent . One is straightforward life insurance with a basic cash payout. The other works a little harder for you. The type you choose will depend on your financial situation and what you’re looking for in an insurance policy.
Term is for a Time
Term insurance is the most basic type of insurance. You can buy protection for a certain amount of time (or term) such as 5, 10, 15, 20 or 30 years.* If you die before the term is over, your beneficiary gets the death benefit stated in your policy. If you live beyond the term, your beneficiaries get no payment. This type of insurance is usually the least expensive to buy.
Renew or Convert
Term policies often allow you to extend your coverage for another term without having to get a medical check up.
In some cases, you may be allowed to convert your policy to a permanent policy. This flexibility allows you to decide how you want your insurance policy to work for you. One approach is to use the term as your “starter” policy and upgrade to a permanent policy once you become more financially established.
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Is Term Insurance Right for You?
| Consider Term Insurance If:
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Because:
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| You are currently unable to pay the premium of a permanent policy
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Term life insurance is generally less expensive than permanent life insurance
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| You are looking for home mortgage or other loan protection
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You can select a policy with decreasing coverage to match your decreasing mortgage or loan balances
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| You have young children
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You can buy protection for the length of time it will take for them to be financially independent
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| You’re looking for additional protection to supplement another life insurance policy
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Term life insurance offers affordable increments of coverage for the length of time you choose
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Are You Covered?
Insurance is more than just a necessity. It helps secure what’s important to you.
Many people think their employer’s life insurance is all they need. But it may not be nearly enough. Check the amount of your coverage. It may not be more than a year’s salary. Also, check to see if you can take the policy with you if you change jobs. If not, you may find it difficult later on to qualify for life insurance due to your age or health.
Call us!
281-357-5200
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