Life Insurance in Texas

What is life insurance?

Life insurance is insurance for your life. You pay a premium to ensure your loved ones or beneficiaries are paid a certain amount when you die. There are two types of life insurance policies: term life insurance and permanent life insurance.

Term

Term life insurance expires and only lasts for a predetermined time. It takes effect from the date you get your policy until you die or your insurance policy ends. Term life insurance comes in different forms and time lengths. You can get a 10-year, 20-year, or 30-year policy. You can also have a policy that can convert to a permanent policy. It depends on what your insurance company offers.

Permanent

Permanent life insurance gives you coverage from when you buy your policy until you die or stop paying your premium. Unlike term life insurance, permanent life insurance has a cash value option that you can take out and use for different things such as loans, paying debts, and paying policy premiums.

Who is life insurance for?

Unlike other types of insurance, you do not receive your life insurance benefits. The money goes to your loved ones as a death benefit. Life insurance helps pay for your funeral and burial costs, pays your debt, helps send your kids to college, and takes care of your family's other financial needs after you die.

How does life insurance benefit you?

Although life insurance doesn't benefit you like other types of insurance do, having life insurance can give you peace of mind. You don't have to worry about how much your family might struggle financially after you are gone because you are already taking care of that by getting a life insurance policy.

Contact us

If you live in Texas and want more information about our life insurance policy options, contact Roberts Family Insurance in Friendswood, TX.