Life Insurance in Texas
Protect the ones you love! Life insurance is not for the person named on the policy, but for those he or she leaves behind. It is one of the most important policies you can have. Do not count on a policy at work or waiting for a “better time” to become covered. Discuss your options with Great Southern Agency in Tomball, TX.
Why should anyone buy life insurance in Texas or anywhere? Many financial experts consider life insurance to be the cornerstone of sound financial planning. From a much deeper prospective, it can be the most important insurance policy you ever buy.
It can be an important tool in the following situations:
- Replace income for dependents. The most commonly recognized case of this is parents with young children. However, it can also apply to couples in which the survivor would be financially stricken by the income lost through the death of a partner, and to dependent adults, such as parents, siblings or adult children who continue to rely on you financially.
- Pay final expenses such as funeral and burial costs, probate and other estate administration costs, debts and medical expenses not covered by health insurance.
- Create an inheritance for your heir if you have no other assets to pass to your heirs by naming them as beneficiaries. In most cases, life insurance is passed down to heirs tax free! This is way to pass on more financial security from one generation to the next.
- Life insurance benefits can pay estate taxes so that your heirs will not have to liquidate other assets or take a smaller inheritance.
- Make significant charitable contributions by making a charity the beneficiary of your life insurance. You can make a much larger contribution than if you donated the cash equivalent of the policy’s premiums.
- Create a source of savings with some types of life insurance. They create a cash value that, if not paid out as a death benefit, can be borrowed or withdrawn on the owner’s request. Furthermore, the interest credited is tax deferred (and tax exempt if the money is paid as a death claim).
- One of the most common mistakes people make is assuming that they are OK due to life insurance that may be provided through their employer. In most cases, these policies are not “portable”, meaning they are gone if you ever leave the company or retire. It’s best to personally control your life policies as opposed to being reliant upon a company or business.
Great Southern Agency in Tomball, TX has access to 23 of the top Life insurance providers in the country. These companies include MetLife, Prudential, Genworth, and AIG. We can assure you get the right mix of the best rates with the best policies in Texas and beyond!