Life Insurance in Texas
Texas laws do not place any demands on employers to offer life insurance to their employees. If, however, they do, then they are required to meet certain demands provided in law. Life insurance offers financial compensation to your beneficiaries after you die. The following are some types of life insurance.
- Term Life Insurance
This type of insurance is affordable and pretty simple. Term life insurance could be an annual renewable term or level term. With annual renewable term, the premium can change annually depending on your age. The level term, however, is sold for a specified period of time in which the premium does not change. It could be ten, twenty or more years. After that period is over, there is no assurance that the premium will remain the same. If you wish, you can convert this policy into a permanent insurance even though that will increase your premium payments.
- Permanent Life Insurance
Premiums for permanent life insurance are higher than term life insurance. They have more features and offer coverage throughout your lifetime. The policy has a cash value that you can use in the future. The premiums remain constant
- Universal Life Insurance
With this cash value life insurance cover, you get to choose the amount of coverage, premium and the cash value you build. It also allows you to change your premium payments and to take loans. However, the changes you make affect your coverage. With some universal life insurance policies, you get a secondary guarantee.
At Koda Insurance group, we have talented and customer-oriented agents and representatives. We try to provide our clients with the policies that best suit their needs at affordable prices. Koda Insurance group offers policies for health, life, Medicare, homeowners, business, retirement planning, auto and investments products in Texas.
Contact us at (325) 695-9999 or visit our offices in Abilene, Texas to get a quote. You can use our online rating tool or contact us today to get your life insurance.
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