Everyone who has people who rely on them needs to have a life insurance policy. Two main kinds are available: term life insurance and whole life. Term life insurance is only valid for several years. After that time, it will expire. However, a whole life policy works very differently. Many aspects of these policies are unique and not found in term policies. Call us at Alloy Insurance Partners in Dallas, TX, if you need life insurance.

No Term, No Expiration

A whole life policy is there for your whole life. It’s a policy that doesn’t expire and can stay in effect no matter how old you get. It will remain active if you keep paying to keep your policy. Because it never expires, you never have to worry about getting another life insurance policy later, as many people have to do when they have term life policies. This can bring policyholders a lot of peace of mind. 

Cash Value

Another major benefit of this type of life insurance is that the policy will slowly build up a cash value. Throughout the policy, the insurance company invests the amount you pay for premiums and makes a profit from those investments. A small percentage of that profit becomes available to you as a cash value you can borrow against when needed. This can also bring peace of mind because policyholders know they will have access to important funds if they have a financial emergency later. 

Get Life Insurance 

Having life insurance to leave something behind when you’re gone is essential. To get started with a policy, call Alloy Insurance Partners in Dallas, TX.