Get the Facts About Your Options for Life Insurance in Grandview TX
Finding the right life insurance in Grandview 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.
Do You Really Need Life Insurance in Grandview TX?
Before deciding what type of life insurance in Grandview TX would be best for your needs, you will first need to decide if you need it at all. Ask yourself this: what would happen to your family if your income was gone tomorrow? Do you have enough in savings to pay for funeral and medical costs associated with the end of life? Could your loved ones continue living in their current lifestyle if they suddenly lost you? If you cannot say yes to all of these questions then you likely need life insurance.
The Difference Between Term Life and Permanent Life Insurance in Grandview TX
As you start researching your options, you will quickly be faced with a choice between term life and permanent life insurance in Grandview TX. The main difference is in how long they last. Term life insurance will last for a specific term. Despite the name, permanent life insurance does not always last for the rest of a person’s life – though it often does. In some cases, it will be valid until the insured turns 65 years old.
Choose Whichever Type of Permanent Life Insurance Works for You
There is no cookie-cutter answer to what type of life insurance in Grandview TX is going to work best for you. There are two main categories and when you work with Grandview Insurance Agency, we can go over all the options so that you are able to make the most informed decision.
- Whole life insurance 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 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.
To get started finding the right way forward, contact Grandview Insurance Agency at (817) 866-3337 right away.