Hicks Insurance Blog
Finding The Right Term Life Policy Is Easy With Hicks Insurance
It is recommended that if you’re under 40 and don’t have a family history of life threatening illness, that you try Term Insurance. When it comes to Term Life Insurance, you want to find the right amount of insurance coverage at a reasonable price with a company you can trust. But for many people, getting started is the hardest part.
This is where Hicks Insurance comes in, we help you decide what you would like your Term Life Insurance policy to achieve for you. For example, do you want to have insurance coverage that will:
- Pay funeral arrangements?
- Pay the outstanding balance owing on a mortgage and other debts?
- Offset the loss of your income? (And if so for how long?)
- Contribute to the future education of your children?
- Or a combination of all of or part of the above?
We’ll give you the personal attention you need to help you determine how much life insurance you should consider purchasing.
We will also help you find the right Term Life Insurance product that will best suit your lifestyle and family, by comparing your needs with host of different insurance companies to ensure you receive the most life insurance for the best price.
With Term Life Insurance there are options for you to get an insurance policy on your own life or you can get one single policy for both you and your spouse (Joint Life Insurance Policy). The most common joint life policy provides coverage when the first partner dies, leaving the life insurance benefit to the surviving spouse.
Deciding how long you will need life insurance is the next variable in deciding on Term Life Insurance. Certain factors come in to play when deciding on this variable, such as:
- When will your mortgage be paid off? (The amortization period of your mortgage will often determine how long your term life insurance policy should be.)
- When will your children finish school? (One day they’ll finish their education and having enough life insurance coverage to pay their education expenses won’t be necessary.)
- When are you planning to retire? (Knowing how long you’ll need term life insurance coverage will insure we find you the coverage you are comfortable with.)
Hicks Insurance has the experience and the resources to help you figure out which term for your life insurance policy is best for you.
Remember, Hicks Insurance compares your needs with multiple Term Life Insurance companies. We save you the time of receiving quotes from one single provider at a time then comparing them on your own clock. We know that it pays to shop around and because life insurance rates can vary considerably depending on the product you choose, your age, and the amount of coverage you need. Hicks Insurance will also help you if you would like to make changes to your life insurance policy, things in life change and so we will be there for you if you ever decide to convert your term life policy into a Whole or Universal permanent life policy.
Hicks Insurance is a name you can trust, we know that a topic such as life insurance and death is a hard one to tackle for most. We approach your life insurance needs with a caring and personal touch to ensure you feel comfortable with the insurance policy you purchase.
Life Insurance 101
While most people don’t fancy the thought of their own death, the fact of the matter remains that death is part of life and in order to protect our loved ones, we need to give some thought to the subject of Life Insurance. Becoming more educated in what life insurance is and what your choices are, the easier it will be to prepare for your final expenses and protect the ones you care about most.
First, you need to understand that there are a few different choices and variations of your life insurance options. Figuring out which life insurance option is best for you will depend on a few different factors, including your current age and health condition. The two major classes of life insurance policies that you need to concern yourself with are Term Life Insurance and Permanent Life Insurance.
Term Life Insurance supplies you with life insurance coverage for a pre-determined period of time. This type of life insurance coverage will usually cost less than permanent life insurance. Policy durations are normally divided up into clear and simple periods of time such as 1, 10, or 10 years. If you are to die within that time period, the death benefit you qualified for will be paid to the beneficiaries you have chosen. On the other hand, if you are still living when the time period expires, your protection will end unless you elect to renew the policy. Term Life Insurance is a perfect fit for those individuals who are only in need of temporary life insurance coverage or those who need large amounts of coverage but are unable to spend very much money.
Permanent Life Insurance provides coverage that is devised to accommodate an individual’s entire life, although in some cases, the policy you choose may be limited up until a specific age. Permanent life insurance policies acquire a “cash value” over time; once you have reached your policy age limit you will be paid the total “cash value” of your permanent life insurance policy. This is one of the major advantages of deciding on permanent life over term life, because it allows you to build up a “cash value” policy. However, there are 2 different divisions of permanent life insurance; Whole Life and Universal Life.
With a Whole Life Insurance policy, under certain circumstances, an individual will be paid dividends and they will also have the advantage of premiums that will not fluctuate over time. With Universal Life Insurance, the owner of the policy is granted the ability to change the policy premiums. Having this type of flexibility can be very beneficial if the owner of a Universal Life Insurance policy experiences a future life changing event.
Note: Any form of permanent life insurance is especially good for younger individuals, who are interested in long term life insurance and who like the idea of building up a “cash value” with their policy.
Knowing you have choices when it comes to life insurance is important…but making a sound decision on the right policy for your personal situation is even more important. Hicks Insurance will help you analyze and discover the perfect policy for your personal and financial situation.
- Call Hicks Insurance -
(281)812-1876
Hicks Insurance – Humble, Texas – Life – Term Life – Whole Life – Universal Life
Hicks Insurance New Website Under Construction
Welcome to HicksInsuranceTexas.com! We have broken ground on our new website – it is still in its infancy stages, but we would like to give some insight on our new website’s purpose. – convinenent E-Client Services and Support – Updates on Insurance products/services – Help for anyone searching for answers to their insurance questions – Offer CHOICES to anyone interested in Life Insurance, Group Medical (employee benefits), Individual Medical, or any of the many full service Insurance products that we offer.