Life insurance plays a vital role in protecting your family. It can help protect family members should one or both spouses die unexpectedly. Consider this, if you were to pass, will your family be able to pay for your final expenses and any debts you leave? Other considerations include covering your children’s future educational expenses. If there are charities that you support closely, a designation from your life insurance policy can continue that support. When you begin thinking about life insurance policies, you’ll quickly realize that it can do more than simply provide money for your family after you are gone. This will naturally bring many questions to mind. That’s where the knowledgeable agents at Robnett Integra Insurance Service can help. They’ve worked with families in the Brownwood, TX area since 1947.
Deciding the type and amount of coverage you need will take some thought and work with your agent. Remember to factor in inflation and estate taxes that will ultimately impact your family. There are two main types of life insurance policies: term life and whole life. Each has it benefits based on your life situation. Term life is in effect for a specific amount of time. This makes them cost-effective. They are also renewable. However, term life policies do not grow in cash value. Also, each renewal is more expensive.
Whole life policies are in effect throughout the policy holder’s life. They have higher premiums than term life but they will build cash value over time. Should you ever need it, you can borrow against the policy.
In the Brownwood, TX area, the team at Robnett Integra Insurance Services can help you understand your options. Call or come in to talk with them. Your family is important. Take the step to protect their future today.