Lakeway, Tx Life Insurance
REAP Financial is the expert on life insurance in the Lakeway area. By learning your financial circumstance, we will recommend the best option. Invest in some more stability to your family by calling us now.
How Does Life Insurance Work?
Life insurance is an agreement between a policy holder and an insurance company. The customer forfeits an agreed upon amount, also called a "premium", regularly, and in exchange the insurance provider pays a cash sum to the policy holder's beneficiaries under specific circumstances most often at the policy owner's time of death.
Which Life Insurance Policy is Best?
Commonly there are 3 types of life insurance to purchase: term, whole and universal. When it comes to the difference between term vs. whole life insurance, it's important to have the truth.
Term life insurance is short-term and only requires payment for a specific amount of time to benefit your heirs for a set amount of time. Whole and universal life insurance are the two most used types of life insurance. They are long-lasting solutions, set up to last the entire duration of the owner's lifetime. If correctly established, there are several benefits to universal or whole plans, like easy access to needed funds, while additionally adding to the cash value, because it adds to tax-advantaged expansion of your savings.
There are advantages and disadvantages to every variety of policy. Contact one of our insurance experts of Lakeway to see which life insurance policy is best for your needs.
What You Get from Life Insurance
Your preferences will dictate the best life insurance policy for you and your family. Financial experts will advise you while picking the best life insurance policy to match your retirement dreams over the coming years.
Do I Need Life Insurance?
- Remove the burden of funding funeral costs from your family.
- Cover the expense of dependents still living at home.
- Cover mortgages and other outstanding expenses.
These are only a portion of the reasons why life insurance is a wise investment. Find out more by speaking with a life insurance expert at REAP Financial for a free life insurance estimate.