Get info on Katy TX life insurance companies from Texas Insurance Agency!
Are you looking for Katy TX life insurance companies? You’re in luck because we have the information for you. Here at Texas Insurance Agency, we can help you. Our team of experts can advise you on the types of insurance you want. From the owners to our sales manager to the commercial lines manager, we have the knowledge to help. When it comes to things like insurance, there are many questions people have. What does it cover? Who does it cover? Well, life insurance is a big topic, but we’ll make it simple for you.
Katy TX life insurance companies
There are plenty of life insurance companies in the Houston and Katy area. You have to look to find what you want. For instance, there’s All-State Financial Services, Golden State, Globe Life Inc, and Farmers Insurance, to name a few. All these locations are within driving distance of Katy and the Houston, TX area. All of these various companies have their own policies and procedures. But at Texas Insurance Agency, we can also provide advice on what to do when and if someone you know passes away. We can help you get an insurance policy on that particular situation if it happens.
Come to one of our locations at Katy or Pearland.
What is Life Insurance?
Life insurance is where an insurance policyholder and the insurer agree on a contract. This agreement is made upon the insurer to pay someone designated as a beneficiary in the event of the insured person’s death. What ends up happening is the insurer promises to pay the money in exchange for a premium. Therefore, after the person dies, the beneficiary gets compensation. The payment to the beneficiary is known as a death benefit.
Other benefits in the contract or agreement include funeral expenses. Beforehand, the insurance policyholder makes payments for a premium. They can either do this in regular chunks or one lump sum. Furthermore, life insurance policies are legal contracts and, as such, must be defined specifically to describe any limitations. For example, suicide, war, riot, or civil commotion are things that can be written into the clause as exemptions. These things help limit the liability of the insurer, for better or worse. As you look for Katy TX life insurance companies, it’s vital to keep that in mind.
Life Insurance Considerations
When you get a life insurance policy, your family is covered when bad things happen.
There are things to consider when you get a life insurance policy. Age, gender, medical history, and the policy’s value also factor into the determination of your life insurance policy. In the end, the life insurance policy can help the beneficiary with tools to replace the lost income of the person’s passing. It can also pay for living expenses, debts, taxes, funeral costs, and college.
Also, there are two categories for life insurance policies. One is the protection policy. This policy provides a benefit as a lump sum when a specific event occurs. The second one is investment policy. This policy’s main goal is to facilitate the growth of capital or money by regular or single premiums. Furthermore, there are also two life insurance policies: term life insurance and permanent life insurance.
Term life insurance
Term life insurance is a policy where a death benefit occurs when a person dies during a specific term. Additionally, this policy has no value other than the dollar amount it has. In addition, term life premiums cost lower than permanent life insurance premiums (whole life and universal life).
Also, term life insurance policies can last for a long time. In some cases, it can be 10, 20, or even 30 years. However, if the insured person doesn’t pass away before the policy expires, there will be no payment at all. The insured can renew the policy or convert it to a permanent policy.
Permanent life insurance
Permanent life insurance stays for the rest of your life. This happens as long as you pay your premiums and as the policy matures as well. In the end, the policies can accumulate value. The premiums may not increase, and your benefits may not decrease, but that depends on your policy.
You can also have flexibility in your policy when it comes to premiums, and the cash can be used for certain things while you’re alive. Here at Texas Insurance Agency, we tailor your insurance policy according to your desires.
We also partner with Farmers, State Farm, Liberty Mutual, and Fidelity insurance companies to give you the right plan on your insurance coverage needs. We also offer the best premiums possible as well. This can help you as you look for Katy TX life insurance companies.
Accidental Death Insurance
Another form of life insurance is accidental death insurance. Accidental life insurance covers the insured person should they die in an accident. Also, keep in mind, this insurance does not cover suicide or deaths from non-accidents. As a result, these policies are less expensive than your other standard life insurance policies.
You can also view accidental death insurance as accidental death and dismemberment insurance. In the case of this insurance, benefits are available for death and any loss of limb or body function. However, a death benefit rarely happens because the cause of death may not be covered by the policy. And death occurs after the accident to where the premiums are not paid.
Parachuting, sports, military service, and flying are not under the policy. In addition, accidental death coverage can add to life insurance as a rider. If you do buy a rider, the policy pays double the amount if the insured dies accidentally.
Endowments
Another form of insurance is an endowment policy. An endowment policy is where the policy pays a full sum to beneficiaries. This happens when the insured dies during the term or if they survive the term.
Furthermore, there are two types of endowment policies. One is that for-profit and the one without profit. If you’re looking for an endowment plan, it’s vital that you have a steady income in your career. This can help to pay premiums. And also, endowments are good for saving plans which helps during an emergency.
Texas Insurance Agency Life Insurance
Jeffrey Fogleman, owner
At Texas Insurance Agency, we can review your coverage options and tailor your policy for you as determined by your budget and priorities. As you look for Katy TX life insurance companies, you’ve come to the right place at Texas Insurance Agency.
Fun Facts about Katy, TX:
- Katy is to the northwest of Sugar Land, Texas.
- In 1945, Katy became a city.
- The city has its name from the Missouri-Kansas-Texas railroad.
- Many people believe the local saloon keeper Katy Mares is what the city is named after.
- For more information about Katy, visit the city website.
