Life Insurance Options for Your Family’s Future and Financial Security
Are you considering purchasing a life insurance policy to protect your loved ones when you die? Any adult with dependents – including a spouse, children, other relatives or friends – should at least explore life insurance policy options.
Life Insurance Options:
At Ayuda Hispana Insurance, we can help you explore different types of life insurance to determine what works best for your family’s unique needs and budget. We offer term and permanent life insurance policies to the people of Houston. We understand that choosing a life insurance policy can be intimidating because of how much your loved ones could one day depend on it. We care about helping our clients find peace of mind and financial security.
The Difference Between Term and Permanent Life Insurance Policies
As their names imply, term and permanent life insurance policies differ in how long they provide protection. A term life insurance policy generally only provides protection should you die within a certain time noted in your policy – usually 10-30 years. A permanent life insurance policy, however, promises to pay out your “death benefit,” or insurance claim, no matter when you die.
Term Life Insurance
You may be curious why anyone would consider a temporary type of life insurance over permanent coverage. One of the main reasons is cost. A term life insurance policy usually has a much lower premium, or regular payment, than a permanent plan. For many of our Insurance clients, a term life insurance policy serves like a backup plan should the unexpected happen. The death of a spouse who contributes to household earnings, however, could cripple a family’s finances. Term life insurance can provide a death benefit in such a case to help a family begin to recover financially as well as emotionally.
It is important to remember that, while it offers a predetermined level of coverage during the term, term life insurance does expire at the end of that term. If the insured person does not die during that time, the investment disappears.
Permanent Life Insurance
Permanent life insurance carries a much higher premium along with more security and more options for financial gain. Most permanent insurance policies accumulate a tax-deferred cash value over time that in some cases can be borrowed against while the insured person is alive. Many clients also earn dividends on their policy, which can contribute to savings or be used for other purposes.
With permanent life insurance, you can ensure that your beneficiaries will receive a death benefit no matter when you die. You will need to understand whether or not your plan has a baseline payout that your family can claim after death and how much your plan may be worth as the economy fluctuates. There are several types of permanent life insurance to consider, including whole life, universal life, variable life, and several combination options. At Ayuda Hispana Insurance, we stay up-to-date with the latest policy options so you can choose the best plan for you.
Navigating Different Types of Life Insurance, Together
At Ayuda Hispana Insurance, our clients in Houston, Katy, and surrounding areas trust us for quality, personalized life insurance policies. Our certified agents are passionate about helping protect families from the unexpected. We are here to answer your questions and help you at every step of the way with your life insurance, health insurance, and other insurance needs. Contact us today, and we can discuss your lifestyle, budget and needs to find the best policy for you.