insurance benefits

Why is life insurance important?

Life insurance provides whomever you choose with a one-time, tax-free payment when you die, as long as you continue to pay your premiums.There are different types of life insurance, and different ways to make it work for you. It’s not only to protect your family. It can also be part of your financial plan, so you may be able to access money in your policy while you’re alive.

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insurance benefits

What kind of life insurance is available?

There are 2 basic types of life insurance coverage: term and permanent. Each has unique features designed to meet different needs.

Term insurance


  • Temporary coverage

  • Lower cost.

  • Fixed payments

  • Option to convert to permanent


Permanent insurance


  • Lifetime coverage

  • Higher cost.

  • Flexible payments

  • Opportunity to build cash value

Life Insurance

How much does life insurance cost?

It depends on the type of coverage you choose. Generally, term insurance is more affordable than permanent insurance. But there are a lot of factors that determine the cost of your policy, including:

Age

Generally, insurance is less expensive when you’re younger.

Health

Family history, chronic diseases and lifestyle can increase costs.

Gender

Women live longer than men on average, so insurance may cost less.

Occupation

If you have a dangerous job, your insurance costs can be higher.

Talk to our insurance experts

Contact a licensed Southwest General Insurance agent to discover the life insurance coverage that is right for you.