After years of putting off the task, the individual is finally ready to invest in a life insurance policy. What remains to be decided is what sort of plan would be best. With the aid of an agent, it is possible to consider several different kinds of Life Insurance Policies in Austin TX and settle on something that will meet the needs of the client.
Why Term Life Insurance May be Right for Now
One of the things that prompted the individual to put off securing life insurance was the cost. Simply put, there is only so much money coming in every month, and adding an insurance premium to the mix seems like an impossible task. For clients who have to live within a strict budget, going over offers for term Life Insurance Policies in Austin TX is a good idea.
Term life is considered the most basic type of life coverage. Plans of this nature pay out a fixed amount at the time the covered party passes away. The policy does not accrue cash value and cannot be funded with the use of investments. In addition, the policy is only in effect for a specified amount of time. The benefits are the lower premium and the knowledge that if the individual does die during the life of the policy, the beneficiary can use the money to settle final expenses or to take care of basic living expenses for a short period of time.
How About Whole Life?
There are a number of different whole life plans worthy of consideration. Some are simple plans that do allow the client to build cash value over the years. The value in that plan can be used as an asset to secure a loan if necessary. Some forms of whole life coverage can also be a great way to bundle stocks and other financial assets into the plan as a way to ensure more of the money ends up with the beneficiaries and less goes to pay taxes.
For anyone who is ready to invest in life insurance, contact the Perdue Insurance Group today and arrange to speak with an agent. It will not take long to come up with a plan that provides a reasonable amount of benefits and comes with a premium the client can afford.
