Category: Life Insurance

Life insurance is one of the most essential types of insurance but one that is not particularly well understood. It is always good to have an expert to advise you when it comes to who should have it and how much you need to have. At Amy Tounget Insurance Agency LLC in Midlothian, TX,  we are an independent agency dedicated to providing our customers with the highest level of service. We will provide the customized service that you require. 

If you have questions about life insurance, you are not the only one. Most people don’t know much about life insurance, and before you purchase any, you need some answers. 

When is the best time to buy life insurance?

The obvious answer is before you need it. Life insurance goes up in price the older you get and if you have any health issues. The young and healthy get the best rates. But certainly, when you have dependents who count on you, it is a necessity. 

Is your work provided life insurance enough?

No, it should not be the only coverage you have. You need to have full control of the amount and type of life insurance in your portfolio. What if you change employers or get a serious illness and are no longer able to work? What will happen to your life insurance? You could potentially lose it and be without coverage. 

Can you have anyone you want as a beneficiary?

Yes, the choice of beneficiary is yours to make. Keep in mind that if you choose someone under the age of 18 or 21, depending on the state, they will not be able to collect the death benefit until they reach the age of adulthood. That age is not the same in every state. 

Contact Amy Tounget Insurance Agency LLC in Midlothian, TX when you are in the life insurance market or need your current policies reviewed. 

 

 

One of the most frequent questions people ask about life insurance is how much is enough?  No one answer is right for every person, everyone has different needs and different components that go into that decision. Having an insurance agent who really gets to know you can help you come up with the right figure. At Amy Tounget Insurance Agency LLC Midlothian, TX, we’re locally owned and dedicated to making sure our customers get exactly what they need at a price they can live with. 

When you are young, you have very few liabilities to worry about. In many cases, no one depends on you, you don’t own a home, you have a car loan, and maybe a little credit card debt. You may have enough assets to cover these in the event you pass away, but do you have enough for your final expenses? That is all you need to worry about at this point in your life. 

Once you start a family, everything changes. You have people who depend on your income. This requires that you take a really good look at what you have for life insurance. You can’t count on what is provided in your benefits package. There is no guarantee you will continue working there. You need to be in control of the amount your family will receive if something happens to you. You need up to 10 years of your income to make sure your family can continue to maintain the lifestyle they currently have. 

When you retire, chances are that all you need, as far as life insurance, is enough to make sure that your final expenses are covered. Talk to your insurance agent to determine what your current needs are. 

Contact Amy Tounget Insurance Agency LLC in Midlothian, TX when you are ready to discuss life insurance. 

A life insurance policy provides your family with a death benefit payout in the event of your death. Purchasing a life insurance policy helps ensure your loved ones are financially taken care of after your passing. Essentially, life insurance policies are an agreement between you and your insurance company where you agree to pay premiums for life insurance coverage in Midlothian, TX. 

If you have questions about life insurance, give the agents at Amy Tounget Insurance Agency LLC a call today. 

Who Needs Life Insurance? 

Anyone who is financially responsible for helping others should consider buying a life insurance policy. Life insurance policies help lessen financial burdens some family members are left accountable for after the policyholder’s death. For example, life insurance benefits can be used to pay for funeral expenses, future mortgage payment, estate taxes, and help maintain a family’s standard of living. 

Types of Life Insurance Policies

There are two main options available when shopping for life insurance — Term life insurance and whole life insurance. For a specific timeframe, term life insurance provides coverage for you, generally up to 30 years, but can be as short as five years. Term life insurance is designed to provide coverage during specific live events, such as raising a family. Beneficiary benefits end when the term expires. Whole life insurance covers you for your entire lifespan as long as you continue paying the premium. 

Life Insurance Premiums

Life insurance premiums are calculated using many factors, including your age, health, family’s medical history, and if you engage in risky hobbies. Term life insurance tends to be the less expensive option and does not carry any cash value. On the other hand, whole life insurance costs more and does carry a cash value, which you can borrow against in the event of a financial need. 

Those in Midlothian, TX, with questions about life insurance, should reach out to the agents at Amy Tounget Insurance Agency LLC. The agents there can help answer all the questions you may have.