Texas Life Insurance

Texas life insurance is pretty easy to understand when you actually get into the meat of the subject.  Most people get a confused look on their face when they first venture into the world of life insurance.  If you can remember that there are only two segments of life insurance then you will be just fine; investment life insurance and no investment life insurance.

No Investment Texas Term Life Insurance

There is only one type of insurance that classifies as not having an investment attached to it and that is Texas term life insurance.  This type of Texas life insurance is very simple when compared with those that have an investment attached to them.  When you purchase term life insurance you are only purchasing life insurance and nothing else.  A typical plan will look like this:
$500,000 30 Year Term Policy, $1000 annual premium
With these parameters you would be insured for $500,000.  The premium you would pay is $1000, paid out once a year.  The term refers to how many years that premium will stay the same.  In this example  the premium would not change for 30 years.  In some Texas term life insurance policies when the term ends the policy ends with it.  In others they will give you the chance to continue the policy, usually at a higher rate.  These policies are pretty much the same everywhere.  So if you get a grasp on it and then move and need Colorado life insurance then you will be ready to go.

Texas Life Insurance with an Investment

There are a ton of different types of Texas life insurance that include an investment.  In Texas whole life insurance, universal life insurance, and cash value life insurance are just a few of the names given to policies that contain a long term investment.  The names are different because where your investment is placed and how it is invested varies between the different policies.  For a few individuals this type of policy is a good idea.  For most people they are better off going with Texas term life insurance and investing in low cost mutual funds.  The reason that term life insurance is the better type of Texas life insurance for most people is that it costs much less.  Texas life insurance policies that have an investment attached accrue cash value over time.  This means that the account has to be managed by a professional and you have to pay fees for that management.  With a Texas term life insurance policy there are no fees just life insurance.  An investment Texas life insurance policy can be twenty times more expensive than a term life policy.
Here at TermLife360.com we are dedicated to helping you find the insurance policy that is the right fit for your needs.  Whether that is Texas term life insurance or another type of Texas life insurance is ultimately up to you.  If you ever have any questions or if there is any way we can serve you please let us know.

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