Life Insurance Policy Rosenberg, TX
Many financial experts consider life insurance to be the cornerstone of sound financial planning. A life insurance policy can start from the moment you get a job or have dependents to finding life insurance for seniors. There are a million different points of reference for what a life insurance policy should be. Looking for life insurance quotes online can get tricky and many people are out to make a quick buck off of selling insurance to you. It’s dizzying to think of where to begin! Texas Wealth Advisers (located in Katy TX and serving surrounding areas, such as Rosenberg, TX) is here to keep your head from spinning. Let’s start with the basics.
You may be wondering, why should I buy life insurance? Life insurance can be a very important tool in the following situations:
If people depend on your income, life insurance can replace that income if you die. Dependents can range from children to a spouse or anybody who would be financially stricken by income lost by your death.
Life insurance can pay for your funeral and burial costs, as well as debts and medical expenses not covered by health insurance.
Even if you have no other assets to pass onto your heirs, you can create an inheritance by buying a life insurance policy and naming them to beneficiaries.
Life insurance can pay estate taxes so your heirs don’t have to liquidate other assets or take a smaller inheritance. (We know what those taxes are in Katy TX!)
Some people don’t have a spouse or child to leave their money to. You can make a charity the beneficiary of your life insurance. This contribution will be much larger than if you donated the cash equivalent of the policy’s premiums.
Some life insurance policies create a cash value that, if not paid out as a death benefit, can be borrowed or withdrawn on the owner’s request. If you make paying your life insurance policy premiums a high priority, buying a cash-value type of policy can create a “forced” savings plan. Furthermore, the interest credited is tax-deferred, and tax-exempt if the money is paid as a death claim.
Some of the hardest things in life are only made worse by the debt that may come with them. For older adults, the risk of stroke, cancer, heart attacks or conditions like ALS are a very real concern. But paying for treatment shouldn’t have to be. Thankfully there are plans now that will allow you to access cash for critical conditions, as well as treatment for chronic or long-term problems. These might come in the form of permanent cash building policies, or term policies with a set time frame.
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Life Insurance for Seniors
For many Americans, even in Rosenberg, TX, life insurance isn’t about accruing enough money to create an inheritance. Most children and spouses are financially independent and are in no need of replacement income upon the death of a loved one. Most surviving family members and loved ones only need enough money to assure final expenses such as burial costs or medical or other bills are paid out. This, for the most part, is what we are looking at in terms of life insurance for seniors. Seniors looking for life insurance should be looking for life insurance policies and quotes that have low rates, lower minimum amounts, and no need for an exam. You may have heard of life insurance terms such as term life insurance and permanent life insurance. Let’s discuss the difference between these two:
is usually a policy implemented when we are knocking on death’s door. In this case, your insurance company will promise to pay your beneficiaries a specific amount if you die during the length of the policy’s terms. Therefore, if you pay your monthly premium for the length of the policy’s term, you are good to go.
- is what you would normally think of when you think of life insurance. Permanent life insurance remains for as long as you continue to pay into the policy as well as your premiums. This type of insurance is often known as whole life insurance.
Life Insurance Quotes Online
Looking for life insurance quotes online is usually a good way to get overwhelmed. It’s difficult to see exactly what you’re getting from each quote, and most of the time they have hidden stipulations. Rather than looking for life insurance quotes online, you should book an appointment with us! Luckily, when you pair up with Texas Wealth Advisers, you are getting an unbiased guiding hand, looking out for your best interests. The best thing is that we are local to Rosenberg, TX and the surrounding areas! We can be at your doorstep whenever you need to speak with us. We service areas such as:
- Katy, TX
- Brookshire, TX
- Fulshear, TX
- Cinco Ranch, TX
- Victoria, TX
- Sugar Land, TX
- Rosenberg, TX