Austin, Texas Life Insurance
No matter where you are in life, life insurance is an effective way to guard your family. Occasionally the unthinkable happens and you should be capable of helping your family with extra stability when it does. Contact Reap Financial to find out more about our life insurance products.
What Does Life Insurance Do?
Life insurance is a contract connecting an individual and an insurance company. The policy holder gives a regular amount, called a "premium", regularly, and in exchange the insurance provider hands out a cash amount to the policy holder's beneficiary under certain circumstances usually after the policy owner passes away.
What is the Difference Between Term, Whole and Universal Life Insurance?
There are 3 types of life insurance to opt for: term, whole and universal. When it comes to the difference between term and whole life insurance, it's essential to have the truth.
Term life insurance means you simply pay for an agreed upon amount of time, and your beneficiaries will only recieve payments for a set period. Whole and universal life insurance are the two most typical types of life insurance. They are long-lasting plans, set up to last the rest of the owner's lifetime. If correctly created, there are quite a few perks to universal or whole types of life insurance plans, including simple access to needed resources, while also providing cash value, because it makes for tax-advantaged growth of wealth.
Both types of life insurance have their share of pros and cons. Talk to one of our insurance professionals in Austin to see which life insurance plan is best for your situation.
Advantages of Life Insurance
Every investment strategy has its share of advantages and disadvantages depending on each client's financial background. This is why selecting a trained financial expert is a must.
Why Should You Buy Life Insurance?
- Eliminate the burden of funding funeral arrangements from your family.
- Covers any surviving children or dependents at home.
- Cover mortgages and other outstanding debts.
The professionals at Reap Financial in Austin are waiting to assist you. We know the world of life insurance and the most appropriate policy to fit you with. Visit us for advice today.