Texas Life Insurance

Life Insurance in Texas

As you consider your options and needs for life insurance in Texas, recognize that now is the perfect time to buy a life insurance policy. Whether you are considering whole or term life insurance Texas residents can find a wide range of options, and the sooner you buy a life insurance policy, the lower the cost will be to you. Here’s how to compare life insurance plans in Texas and find one that meets all of your needs.

Texas Life Insurance Quotes

One of the most common misconceptions about life insurance rates in Texas is that they are just too high and that this makes it very hard for anyone to afford coverage. That is not the case. In fact, Texas life insurance quotes can show you just how affordable buying life insurance can be. However, it is important for you to learn how to get the best rates for life insurance in Texas, and that means getting personalized quotes for it. In Texas, a life insurance calculator can help, but for better results use our smart wizard.

Life Insurance Companies in Texas

In Texas, there are dozens of life insurance companies available to you, each one offering different products and rates. Many of them do not advertise their rates, which makes it hard for you to find the most affordable policy out there.

What also complicates the process is that life insurance companies use different factors to determine the cost they charge you. Most base this on a risk profile they develop, but some costs may be lower than others simply because of the way they treat risk factors. For example, in Texas, 52.3 percent of the population is married. Being married can reduce your costs through some – but not all – life insurance companies.

How to Get the Best Rates for Life Insurance in Texas

Knowing how complex it can be to get the best rates on life insurance, you may be wondering how to do it and ensure you are not overpaying. One option is to request quotes from each of the companies available, but that can be costly and time-consuming. You can use an insurance agent, as most will sell life insurance. Yet, they do not have to present all the options. With our smart wizard, you put in your zip code and some basic information. It then uses a smart matching algorithm to pull up all available options in your area that fit your criteria, giving you instant access to the least expensive policies out there.

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How Are Life Insurance Rates Calculated in Texas?

Life insurance companies pay a sum of money to a person’s family if that person dies during the policy. To determine how much to charge you for this protection, they base it on risk factors. Is there anything about your life that makes it seem like you could die early? That would raise your costs. Some of the factors insurance companies need to consider include the following.

Age

Age is essential, and that is good news in Texas. There, 14.6 percent of the population is 25 to 34. This is the ideal time to buy life insurance because your costs will be the lowest.

Gender

In Texas, 50.34 percent of the population is female. For them, costs may be a bit lower. Insurance rates tend to be lower for women because they typically live longer lives than men do.

Weight and Health Background

A very big factor is your health. It is possible to get life insurance in most cases, but if you have a diagnosed health condition or you have health risk factors like being overweight, that will increase your costs. For example, in Texas in 2017, 33 percent of adults were obese, and 11.9 percent had diabetes. Those factors are larger than the national average.

Job and Profession

Some of the largest industries in Texas are high-risk professions, which can raise your life insurance costs. This includes things like agriculture, oil, ocean-related work, transportation, and construction.

Lifestyle

Off-roading, ocean sailing, motorcycle use – these are just some high-risk activities you may engage in. Life insurance companies really want to know about things like smoking, drinking, and using drugs. In 2016, out of 100,000 deaths, 7.9 were related to alcohol use, while 10.6 were related to drug use. These figures are significantly lower than the rest of the country.

Criminal Record

Having a criminal record may increase your costs for life insurance as well. This is very true if you have violent crimes on your record or you’ve been convicted of reckless driving.

Life Insurance Policy in Texas - Compare the Best Plans

Another key concern is the type of life insurance available to you. You have every option available in Texas, but the most popular are these?

Term Life Insurance

Term life provides a payment to the named beneficiary of your policy if you die while the policy is in place. They remain in place for a set number of years, usually 10 to 30.

Whole Life Insurance

Whole life insurance is another option like term life, but it does not have an end date. You can maintain this coverage for most of your life, if not all of it.

Universal Life Insurance

Many people in Texas choose universal life because it can add to their retirement income. With it, you can build up the underlying investment and build up the cash value. In retirement, some of those funds can be paid to you.

Family Life Insurance

It’s wise for both spouses to have life insurance, and some kids should have it as well. Buying a family life insurance policy can help cover more than one person. This gives you comprehensive peace of mind.

Group Life Insurance

Most larger employers in Texas offer this. It allows you to buy life insurance (or is given to you as a benefit through your employer) at a lower cost. It is also ideal for those who have pre-existing conditions that make it hard to buy life insurance any other way.

Life Insurance for Kids

If you have children, you don’t want to think about them dying, but consider the cost of end of the life needs if that did occur. With children’s life insurance, there could be financial protection in place to ensure you can give your child the final arrangements you desire.

Pretected.com makes it easy for you to compare all of your options in Texas. Enter your zip code and some basic information here. Then, the smart matching algorithm pulls up quotes from all the options in your area, including those with the lowest rates based on your personal criteria.

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