Life Insurance in Forth Worth, TX
Life insurance can help provide financial security for you or your loved ones by replacing lost income and covering various expenses after your death or when the policy’s term is up. If you’re looking for life insurance, we’re here to help. Our agency is ready to discuss your life insurance needs and help find a policy that’s right for you.
Life is full of uncertainties, and safeguarding your loved ones’ financial well-being is a significant responsibility. Life insurance can be a vital tool that offers you and your family peace of mind.
What Is Life Insurance?
Life insurance is a contract between an insurance provider and a policyholder. Generally, the policyholder pays for premiums during their lifetime; when the insured individual dies, the insurer pays a sum of money to one or more beneficiaries.
What Does Life Insurance Cover?
A standard life insurance policy typically includes the following death benefits:
- Death taxes can help cover costs associated with federal income taxes on your estate.
- Income replacement can help support dependents who rely on your annual salary for financial support.
- Inheritance creation passes down your wealth and assets to your desired beneficiaries.
- Final expenses can help pay for burial, funeral and other related expenses.
Who Needs Life Insurance?
Life insurance is recommended for most people since it can help with expenses you leave with loved ones when you die. Consider the following scenarios:
- Your debts may be inherited.
- Your spouse, partner, children or other relatives depend on your income.
- Your funeral expenses would be a financial burden.
- You own a business.
How Does Life Insurance Work?
Most people use life insurance to help support their loved ones financially after their death. A life insurance policy may provide a death benefit to one or more beneficiaries when the insured person dies in exchange for a monthly, quarterly or annual premium.
What Are the Types of Life Insurance?
There are two primary types of life insurance, including:
- Term life insurance—A term life policy provides a death benefit to your loved ones if you die during the policy’s term. This term might be a period of 10, 20, 30 or more years, depending on the expiration date of the policy. If you do not die during this time, the policy does not pay and will expire when the term ends. You will also have to reapply for a new policy if you want to continue to have coverage.
- Whole life insurance—A whole life policy will last for the remainder of your life once you enroll. It will not expire unless you stop paying for it. Additionally, such a policy offers cash value investment opportunities. This cash value component can enable you to receive a source of income during your lifetime (in addition to the eventual death benefit).
Several other types of life insurance also exist. Speak to one of our agents to determine which type of coverage suits your particular needs.
How to Get Life Insurance
If you’re in need of a life insurance policy, we’re here to help. Give Curlee Insurance Agency a call or request a quote online to get started.