What is Whole Life insurance?
Whole Life Insurance is an insurance policy that will last until the insured dies.  A Whole Life Insurance policy will not expire as long as premiums are continuously paid, and Whole Life Insurance policies will function for the entire lifetime of the insured.  The premium rate is guaranteed, and when the insured passes away, the policy beneficiary will be paid the death benefit. 

What is cash value?
Cash value refers to the cash saved within certain life insurance policies such as Whole Life and Universal Life.

Can I buy life insurance on my parents?
You can absolutely buy life insurance on your parents, however whoever is being insured will need to give signatory consent within the life insurance application.

Are life insurance payouts taxable?
Generally life insurance payouts are not taxable, although there are a few circumstances where tax may be due.

Why should I buy Whole Life Insurance?
If you have after life expenses that are permanent such as estate taxes, inheritance for survivors, or final expenses, permanent life insurance is the logical solution.

My cholesterol is a bit high, should I delay my exam?
No. If you would like to be protected, schedule your exam as soon as possible. It is actually difficult to be declined when buying life insurance, so if you have a minor health issue, it is best to move forward with securing your policy.

If you’re managing a more serious health issue, it is recommended that you speak directly with your agent since they are familiar with the underwriting process. They will be able to give you more specific information regarding your application status.

Can I own more than one life insurance policy?
Yes, you can own as many life insurance policies as necessary for your individual situation.

Do stay at home parents need life insurance?
Consider the cost to replace all duties performed by a stay-at-home parent: housekeeping, meal preparation, childcare, etc. It would be extremely costly to hire someone to fulfill on these mother / father duties. This is exactly the reason why it’s necessary to acquire life insurance on stay-at-home parents. Life insurance is an inexpensive method of achieving total peace of mind when it comes to unexpected death of a stay-at-home mom or dad.

How do I find a good life insurance agent?

How do I find a good life insurance agent?
Your agent must be licensed within your state. Within Texas, the licensing agent is the Texas Department of Insurance (TDI).

Similarly to other intimate professional relationships, it is very important that you take the necessary actions to ensure you select a life insurance agent that fits your style and needs.

How long should I buy term life insurance for?
Term Insurance is available across specific ‘terms.’ Meaning, the policy last for a pre-designated amount of time, such as, 10, 20, or 30 years. Consider the short-term and long-term future expenses you might need to account for such education for children, house mortgage, or replacing lost income. You can most easily figure out what fits your specific situation by speaking with an agent.

What are the beneficiaries for life insurance?
Beneficiaries are the individuals that will receive the death benefit in the event of an insureds’ death. There are 3 types of beneficiaries: primary, contingent, and tertiary. The primary beneficiary is the first in line to receive the policy proceeds. A contingent beneficiary is the individual who will receive the death benefit if the primary beneficiary is dead. If both the primary and contingent beneficiary have passed away, the tertiary will receive the policy pay out.