Before you choose what type of life insurance policy you need, you will have to know what you are trying to accomplish. For some Lubbock and Amarillo, TX residents, it may be to pay for their final expenses directly. Others may need to have a large enough payout to care for their family if they pass away unexpectedly. The agents at Nest Insurance Agency can help you figure out what type of policy you need to accomplish the goals you have in mind.
Caring For Your Family
A whole life policy is designed to last your whole life. It has a much larger payout than a term policy because it is meant to provide financial stability for your loved ones if you die unexpectedly. The premiums are much higher, and the policy does not have a maturity date. It is meant to last for your lifetime, be it a few years or 60 years.
Paying for Final Expenses
A term life policy is much more affordable. The amount of the payout is often much less than a whole life policy, and the premiums are based on how many months or years are included in the term of the policy. A term life policy has a maturity date and will build equity for as long as you pay the premiums. You may also be able to borrow against the equity if you choose.
Residents who live in Lubbock or Amarillo, TX should call the agents of Nest Insurance Agency if they want to learn more about the different types of life insurance policies. Don’t wait! Call their office to talk to an agent today!
