Life Insurance Agent in Ft Worth & Dallas
Do you have enough life insurance? It's a question that people often ask themselves and most people believe that they're underinsured. At Texas Retirement Specialists, we'll go over your current life insurance policy to provide you with the answer that you need. Not insured? One of our trained and professional staff members will assist you in finding the right life insurance policy that will protect you and your family. Our offices are in Fort Worth & Dallas, Texas and a member of our team can easily be reached by phone to start discussing your needs.
Does Everyone Need Life Insurance?
One of the many myths out there about life insurance is that if you don't have a family to take care of, then you don't need it. While everyone's life insurance needs greatly differ, you should still have a solid plan in place to cover the unexpected. The cost of burial service alone rises significantly each year and this rise in cost is projected to continue.
How Much Life Insurance Do I Need?
How much life insurance you need is going to depend on your unique situation. Family size, your current life insurance (if any), the debts you'd like to be paid off, money you'd like to leave behind and many other factors will be taken into account. Remember, life insurance needs often change and at Texas Retirement Specialists, we will work with you through every stage of life to make sure that you're protected.
What Types of Life Insurance Are There?
There are two main types of life insurance: term life insurance and permanent life insurance. Term life insurance is commonly the most affordable and basic option for those who are looking to be insured for a certain number of years. Term life insurance stays in place as long as the premiums are being paid and the length of time that the policy is in place is often very flexible. For example, you can take out a term life insurance policy for as little as a year or you may choose a longer term such as 10 or 20 years.
If you have term life insurance in place, your beneficiaries will be paid the face amount of the policy in the event of your death. We will work with you to discuss how long of a term you need and we'll also help you determine the amount of the policy you need based on what you want covered.
Permanent life insurance is often also referred to as whole life insurance and you have a few different options if you decide permanent life insurance is right for you. These options include:
Standard whole life that builds up a cash value over time. It may be possible to borrow from this cash value depending on your specific situation. Whole life insurance's premium will stay the same for the life of the policy.
Universal life is very similar to whole life insurance but it's often more flexible. Once money is built up, you may have the option of paying flexible premium amounts or you may be able to pay your premiums at a different frequency.
Whether you want to make sure that you're covered with the life insurance that you already have in place or you're looking for your first policy, Texas Retirement Specialists are your go-to life insurance experts in Fort Worth, Texas and beyond.
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