Get the Facts About Your Options for Life Insurance in Cleburne TX
Finding the right life insurance in Cleburne TX can be complex. Should you choose convertible or combination life insurance? Do you need term life of whole life insurance? Does it even make sense for you to have life insurance in the first place? These are complex questions and the answers are different for everyone, which is why we recommend you contact Grandview Insurance Agency at (817) 866-3337 to consult with an experienced insurance agent. You can also read on to get the basics about various options.
Important Reasons You Need Life Insurance in Cleburne TX
Most people will get life insurance to make sure that their family (or other chosen beneficiary) is okay after they die. Some people choose to get life insurance to make sure that funeral costs, medical bills, student debt, and other debts that remain after death are not left for family members to deal with. Others want to leave money behind to allow their family to continue their quality of life, or they want to have money to donate to a charitable cause.
Choosing Between Term Life Insurance and Permanent Life Insurance in Cleburne TX
There are two main types of life insurance in Cleburne TX: term life insurance and permanent life insurance. Term life insurance refers to insurance that lasts for a specific amount of time, which is called the term. For example, term life insurance might be for 25 years. As the name implies, permanent life insurance lasts either for the life of the insured or, in some cases, until they turn 65 years old.
The Two Main Types of Permanent Life Insurance
If you decide that you’re looking for life insurance in Cleburne TX for the long term, then permanent life insurance is the right choice – but which one? The good news is that when you work with Grandview Insurance Agency, we will help you find the perfect options. There are two basic types:
- Whole life insurance. This has a set premium and it is valid just as long you as continue paying your premiums. Depending on the policy, it might build up cash value and you might get that money back if you surrender the policy.
- Universal life insurance. This is a type of permanent life insurance with investment options. Your premiums would be adjusted as time goes on, based on your investments, cash values, and whether or not you have borrowed from your policy.
Which of these is right for you? That depends on a lot of factors. Contact Grandview Insurance Agency now at (817) 866-3337 to get answers to your questions about choosing life insurance in Cleburne TX.