If you’re thinking about life insurance, then you should start researching it now. The sooner, the better. The best time to get life insurance is at birth, but since you’re unable to do it for yourself at that time, then you should look into it now. Alloy Insurance Partners in the Dallas, TX area can help you. We have agents with insurance experience, and we’re ready when you are.

What is Life Insurance?

Life insurance is a policy or contract between you and the insurance company. The insurance company will pay your beneficiaries a specific amount upon your death. In return, you pay monthly premiums to the company. The amount is based on the terms of your policy. It could be $100,000, $200,000, or more. It is also a one-time lump sum payment.

What Types of Life Insurance

Term-Life Insurance — Your premium payments remain the same for a specified period or term. Terms are usually set in 10-year increments. Starting at 10 or 20 years, terms can be extended once it ends. You can always convert it to a whole-life insurance plan or terminate the coverage altogether. The insurance company uses the life expectancy of the policyholder to determine the premium amounts. The person’s age and health also determine it.

Whole-Life Insurance — Provides lifetime coverage, which includes a cash-value payout along with the death benefit. The cash value is more like a savings account. If you pay more than the premium each month, then those funds will basically be set aside earning interest. 

Don’t be willing to let yourself go without life insurance any longer. If you’re in the Dallas, TX area, the agents at Alloy Insurance Partners can help you start the discussion about purchasing life insurance today.

If you’re single with no dependents, you don’t need life insurance, right? Wrong! Singles can benefit just as much from life insurance as couples with children. Here are just a few ways a life insurance policy from Alloy Insurance Partners in Dallas, TX can benefit you as a single adult.

Pay Off Debts

If you have debts that you accrued with a business partner, family member or significant other, this individual would be responsible for paying off these debts if you were to suddenly pass on. This could put someone you care about under financial pressure. By taking out a life insurance policy and naming this individual as your beneficiary, he or she would have the funds to pay for your share of the debt, alleviating him or her of this burden.

Funeral Costs

Life insurance benefits can be used to pay for your funeral costs so your family doesn’t have to assume this responsibility in the event of your unexpected demise. 

Future Spouse and Family

You may be single now but what about the future? If you plan on getting married and having a family in the future, you can save money by purchasing a life policy now while you’re young and healthy. You’ll then have some protection in place for when you do get married and start your family. The cost of life insurance goes up as you get older.

Support for Aging Parents

If you’re supporting aging parents, benefits from a life insurance policy can continue to provide your parents with financial support after your demise. You can have peace of mind that your parents will be taken care of if you were to suddenly pass on. 

Learn more about the benefits of life insurance now and in the future by contacting Alloy Insurance Partners in Dallas, TX. 

At some point in your life, you should consider purchasing a life insurance policy so you can protect your loved ones from financial burdens that can occur from an untimely passing. One of the most common questions people ask is what age you should begin shopping for life insurance. Anyone who has a family should consider making this important insurance policy purchase, as well as people who have a substantial amount of bills and assets. In general, anyone over the age of thirty may want to consider this critical coverage. 

Shopping For Life Insurance

Shopping for life insurance should be a priority for anyone who has a family or children on the way. It should also be important to anyone who has a substantial amount of items that are assessed for taxes and require maintenance and long term upkeep. If you pass away, you will leave these responsibilities to your loved ones, which can create a significant financial burden. Avoid these issues by being proactive and shopping for a life insurance policy that will protect them in the future. If you live in or around the Dallas, TX area, you should consult with Alloy Insurance Partners to help you get the right amount of coverage. Get personalized service that can help prevent debt and trouble covering future expenses related to funerals, property, education, and more. 

Don’t leave your loved one’s financial future at risk. Residents living near Dallas, TX should call or stop by Alloy Insurance Partners to get more information about life insurance coverage as well as answers to any questions about coverage. Leave peace of mind at a time when it will be needed the most.