What Could Be Sadder?
What could be sadder than a young family of four, including two children, a mother and a father, that loses their main earner? It can only be made sadder when that person didn’t have life insurance. This means that the surviving spouse and children cease to receive that income.
Texas Life Insurance is Necessary
In general, life insurance is not costly. Its main purpose is not as an investment vehicle. In fact, in both Texas and Louisiana, the law prohibits marketing life insurance as an investment or a source of retirement income.
The purpose of life insurance is to assist your beneficiaries or dependents in maintaining their standard living after you pass away.
As you might suspect, families with young children are the ones who need life insurance the most. That’s because children depend on the incomes of their parents or guardians to survive. It’s a good idea to have life insurance on all of the earners in the household.
In general, there’s less of a need for life insurance when the children are earning on their own. Single adults may not need it unless they are single parents or supporting someone like an elderly parent.
Texas and Louisiana Life Insurance Experts
There are two main types of life insurance—term and cash value.
- Term Life- These policies are defined by a term and a cash payout if the policy holder passes away during the term. For example, the amount may be $200,000 on a 20 year term.
- Cash Value- These policies cost more than term life. That’s because, in addition to a death benefit, they accumulate savings that can be cashed in or borrowed against.
Obtain a no obligation quote for the insurance that best fits your situation. A life insurance pro will contact you to determine the best life plan for you.
Texan Insurance is Texas based. We know and understand life insurance. We’ll help you make the most favorable life insurance decision.