Life Insurance in Garland, TX
Allsafe Insurance offers tailored life insurance solutions that fit your needs and lifestyle. Explore the features of term life insurance and permanent life insurance to discover which option best suits you.
Contact Allsafe Insurance today for a life insurance quote.
Term Life Insurance
Term life insurance is designed to help provide financial protection for a specific period, such as 10, 20 or 30 years. Many people consider it an affordable way to ensure loved ones’ financial well-being if the insured person passes away during the policy’s term.
Here’s what you need to know about term life insurance:
- Coverage period—Term life policies are for a fixed period.
- Premiums—These are based on the insured person’s age, health status and other factors.
- Death benefit—This pays a predetermined amount if the insured dies within the term.
- Renewability—Some policies allow for renewal or conversion to a permanent policy.
Term life insurance has many benefits, including the following:
- Affordability—Lower premiums make it accessible to many.
- Simplicity—Coverage is straightforward, without complex investment components.
- Flexibility—Terms and death benefits align with your needs and future goals.
Permanent Life Insurance
Permanent life insurance may provide lifelong financial protection combined with an investment component.
Permanent life insurance benefits may include the following:
- Lifelong protection—Coverage lasts your entire lifetime.
- Investment opportunities—There is potential for growth through cash value.
- Estate planning advantages—The policy can be used in complex estate planning strategies.
The two main types of permanent life insurance are whole life and universal life. Defining characteristics of these policies typically include the following:
- Whole life insurance
- Lifetime coverage—Protects you for as long as you live while the policy is in force.
- Fixed premiums—Premiums remain consistent throughout your life.
- Cash value—Policies build cash value that can be borrowed against.
- Universal life insurance
- Flexible premiums—Premiums can be adjusted to suit your budget.
- Investment options—The investment component can suit your risk preference.
- Adjustable coverage—You can modify the death benefit as your needs change.
Contact Us
Our team of experienced insurance professionals at Allsafe Insurance is here to guide you through the process of choosing life insurance coverage. We’ll help you understand your options and find the perfect policy to secure your family’s future.
Contact us today for a life insurance quote.