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Laredo Life Insurance
Edinburg, McAllen, Mission and surrounding areas in the Rio Grande Valley of Texas
Many individuals want to ensure their loved ones are financially taken care of after they die. Life insurance provides a death benefit, which goes to your chosen beneficiaries.
Life insurance can help remove some of the worries about your financial stability. Raymond Longoria Insurance can discuss your life insurance options to find a suitable policy.
What Are the Primary Types of Life Insurance?
There are two primary types of life insurance.
- Term life insurance provides money to your beneficiary if you die during your policy’s term. This term could be a period of 10, 20, 30 or more years, depending on your policy’s expiration date. If you don’t die during this period, your policy won’t pay; you need to reapply for a new policy to continue coverage.
- Whole life insurance lasts for the rest of your life once you’ve enrolled. Your policy won’t expire unless you stop paying it. A whole life plan also offers a cash value investment opportunity. The cash value component can provide a revenue source while you’re still alive and the eventual death benefit.
Other types of life insurance are also available, and we can explore if any kind is a good choice for you. These include:
- Final expense insurance
- Group life insurance
- Individual life insurance
- Key person insurance
- Long-term care insurance
- Mortgage protection insurance
- Second-to-die policy
- Universal life insurance
How Much Coverage Do I Need?
The type and amount of life insurance you choose are entirely up to you. Often, people tie the value of their life insurance to the value of their debts, such as mortgages or car payments. Your beneficiary can use their death benefit to pay these expenses.
Other people tie their death benefit to their income and leave a certain number of years’ worth of their paycheck to their beneficiaries—whatever you choose to do is your decision.
Your life insurance premium will depend on your chosen coverage, age, and overall health, among other factors. Talk to Raymond Longoria Insurance to find out how premiums are calculated.
Protect Your Loved Ones
Life insurance offers financial support to your loved ones and can give you peace of mind that they’re taken care of after you die.
Raymond Longoria Insurance can help you with a life insurance policy that meets your needs. To get started on your life insurance policy, call us today at 888-296-0345.