Despite common neglect, life insurance is one of the most important policies an individual can hold. Life insurance is a safeguard for your loved ones after you pass. Without a life insurance policy in place, you leave your family’s finances unplanned and vulnerable. As important as life insurance is, we find it is necessary to give you a quick life insurance refresher:
Whole Life Insurance
- Financial protection for the rest of your lifetime
- Never-ending coverage
- Accrues cash value
- Stable premiums
- Medical exam required for determining premium amount
- Best for individuals who have long term needs for life insurance
Term Life Insurance
- Financial protection for an allotted period of time
- Coverage ends when term ends
- Does not build cash value
- Fluctuating premiums
- Typically, no medical exam required
- More affordable for the Average Joe
- Best for individuals who have temporary needs for life insurance
Contact VGW Walker Insurance in Austin for all of your Texas life insurance needs. We can assist in determining whether a whole life insurance policy or term life insurance policy would best suit your needs.
