Life Insurance in Texas

If anyone in your family depends on you or anyone else financially, you likely need a life insurance policy. With these policies, you can choose the type you want in order to get the best return on what you pay in. And while some policies seem more expensive, they may offer just the type of coverage you want. If you're unclear about how life insurance policies work, call us at the Ledford Agency LLC in Midland, TX.

Whole Life Insurance in Texas

Whole life insurance is much like a mixture of life insurance and an investment account. As the premiums are paid, the policy builds a cash value that you can borrow against or take once either you've surrendered the policy or the insured person has died. The amount of the policy depends on your needs, but the premiums tend to be more expensive than other life insurance types. It also is meant as a part of your lifetime financial planning rather than only being available for a specific amount of time.

Term Life Insurance

Unlike whole life, this type of insurance is available only for the term that is indicated in your contract. However, it often costs less than whole life policies. And, the insured can lock in a price long term when they are younger. After that term, the premiums may go up if you are able to get a new policy to extend the term of coverage.

Choosing Your Policy

The amount of coverage you choose often has to do with how much you earn and how many people are dependent on you financially. To figure out which type of insurance you want, call us at the Ledford Agency LLC in Midland, TX. We can walk you through the entire process so that you understand exactly the type of coverage you have and how it works.