You need a life insurance policy in order to protect those you love. Whether you are a young professional without dependents or a middle-aged parent with high school children, you need to make plans for the future. No one plans to die unexpectedly, but at TWFG Insurance Services - Murphy Insurance Group we have the sobering responsibility of helping you prepare for both the likely and the unlikely. Our full menu of life insurance options includes policies that can be customized for Texans of all ages.
The two primary types of life insurance are term life insurance and whole life insurance. Term life coverage is an insurance policy that pays out as long as policy conditions are met and the insured dies during a specified time period. Whole or universal life policies don’t come with expiration dates and can be used as an investment as well as protection for beneficiaries such as your spouse or children.
Usually, term life policies are considered beginner’s policies. They tend to be less expensive than whole life policies. They are often written to provide coverage for parents who want to make sure children will have resources for life expenses and education in the event that the parent passes before the children have graduated from college. Some term life policies can be rolled into whole life policies at the end of a specified term.
Whole life policies build value over time and can help those who might outlive their income as well as the beneficiaries of those who are taken from us too soon.
Choosing a life insurance policy isn’t something to do lightly. Once you have purchased a policy, TWFG Insurance Services - Murphy Insurance Group recommends that you review it every 12 to 18 months. Because life changes, your life insurance needs will also change. Contact us today and set an appointment to speak with us about your life insurance needs. We take pride in insuring discerning Texans.