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Medicare
Dental & Vision
Life Insurance
Contact
Our Team
About US
FAQ
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How Important Is Life Insurance?

What is life insurance and why do I need it?

Life insurance provides a safety net for your loved ones after you pass away. Life insurance policies pay a sum of money to your beneficiaries if you pass away while the policy is in force. Seniors, breadwinners, and people with debts may benefit the most from life insurance. The beneficiaries can use the funds to pay off debts, such as mortgages, to replace lost income, and to pay for funeral and final expenses.

What are the two main types of life insurance?

Term life insurance provides coverage for a specific period of time, usually between 10 and 30 years. If the policyholder passes away during the policy term, the beneficiaries receive a death benefit payment. 


Permanent life insurance covers the policyholder's entire lifetime and includes a savings component that accumulates cash value over time. This cash value can be borrowed against or used to pay premiums. Permanent life insurance is further divided into whole life, universal life, and variable life. 

Understanding the cost of life insurance.

Understanding the cost of life insurance.

The cost of life insurance varies based on demographics and policy types, with rates typically increasing as the applicant ages. 


Younger applicants often seek policies with fixed rates to secure lower costs. This trend emphasizes why many choose to secure term plans early. 


Term policies, which offer fixed rates, are relatively cheaper than other life insurance types. 


  • For a ten-year term life plan with a $1,000,000 payout, the average monthly cost for non-smokers increases from $58 at age 25 to $790 at age 65. 


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Chisholm Trail Insurance Agency

Fort Worth, TX 76123

Office: (817) 567-2234 | Mobile: (817) 455-5059

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