Life Insurance

Once you have decided to buy life insurance, the next step is to fully understand the differences in the many types of life insurance on the market and ask yourself what type will best fit your needs.

Types of Life Insurance

• Term Life — provides low-cost coverage for a pre-determined period of time, typically with no cash value accumulation
• Whole Life — provides both cash value accumulation and guaranteed-to-last death benefit, can be tied to either interest rate or company dividends
• Universal Life — provides both cash value accumulation and death benefit, tied to interest rates, available death benefit guarantees
• Index Universal Life — provides both cash value accumulation and death benefit, tied to overall stock market performance
• Variable Universal Life — provides both cash value accumulation and death benefit, tied to individual stock performance

Final Expense Insurance

Final Expense otherwise known as burial insurance is designed to cover the cost that your family will incur after your passing. Some of these costs include medical bills, cremation, coffin and plot cost as well as any other unexpected funeral expenses. The beneficiary you name on your policy will receive the face amount you purchase that will cover these costs and prevent your family from having to bear the financial burden you leave after your death. Unfortunately, most do not consider that even the smallest and leanest funerals can cost thousands of dollars.

You and Your Circumstances Dictate Life Insurance Choices

Life insurance needs depend on a variety of factors such as whether you are single or married, have children, have savings or investments that can protect you or your loved ones in the event of your untimely passing or whether you need insurance to pay the mortgage and ensure that your family has a secure financial future, if you are not there to provide for them.

Sorting Through the Pros and Cons

Comparing the pros and cons of all the types of life insurance is important, but the comparison process and choosing a policy that makes the most sense in terms of your life situation can be confusing.

A Qualified Insurance Agent Simplifies Decision-making

At the Barajas Insurance Group, LLC in Central Texas, our aim is to simplify your insurance decision-making. When you meet with one of our experienced insurance agents, you will get answers to your questions, a clear explanation of the differences in life insurance options and the assurance that you are making the right choice.