Southlake Life Insurance
Searching through the different types of life insurance policies can be difficult if you don’t know how much coverage you need. Call Life Insurance by Monique Navarro for help with picking an insurance policy with great benefits and low rates.
Our independently owned and operated life insurance agency will work with you and make a personal recommendation for the life insurance you need. We’re well-established, licensed, bonded, and insured.
Monique Navarro is a licensed insurance broker. This means our team has access to numerous policies available from the best insurance providers in Southlake. We help our customers by comparing the different policies available and finding the lowest premiums.
Types of Life Insurance Policies
You will be able to choose from term life or whole life insurance. There are other types of policies, like universal life and final expenses life insurance. Each policy comes with unique benefits.
Term Life Insurance
Term life insurance in Southlake is available for anywhere from one to thirty years. These policies are great because they have a low cost.
Term life policies will pay out a death benefit if the policyholder passes away unexpectedly during the term of the policy. If the policy term ends, so does the coverage.
We can help you find a term life policy that best fits your coverage needs. Rates depend on your age, health, term length, and more. Our agents can help anyone with an existing term life policy convert their policy to a whole life policy, or extend the term of their current policy.
Whole Life Insurance
Unlike term life policies, a whole life insurance policy in Southlake will last for the duration of the policyholder’s life. Whole life policies have many benefits, including:
- Fixed premiums that won’t increase over time
- A fixed death benefit that won’t decrease over time
- The policy will build cash value as it ages
- The cash value can be borrowed to pay off debts
Many whole life insurance policies require the applicant to submit to a health exam. The rates will vary based on the results of the exam as well as the applicant’s age and the amount of death benefit. Whole life policies won’t expire so long as the premiums are paid.
Universal Life Insurance
Another form of permanent life insurance is universal life insurance. Universal life insurance in Southlake is similar to a whole life plan, but it has additional benefits and policy flexibility, including:
- Premiums that can decrease over time
- The ability to increase or decrease the death benefit over time
- The policy will build cash value as it ages
- The cash value can be borrowed against to pay off debts
UIL life insurance policies may also require the applicant to undergo a health exam. Like whole life policies, the premiums are based on the applicant’s age, health, and amount of coverage.
Final Expenses Life Insurance
If you are over 50, or have a hard time qualifying for term or permanent life insurance, you should consider final expenses life insurance in Southlake.
Also called burial insurance, these policies help provide for the financial needs that come with the applicant’s end-of-life. The death benefit is smaller than the previous insurance policies; however, it’s not as difficult to qualify for this type of policy.
Final expenses life insurance can help pay for burial costs. The funds from the death benefit can also be used to cover medical bills, legal expenses, outstanding debts, and more.