Life Insurance in Dallas, TX

Experts break down life insurance costs, coverage, companies, and more in Dallas, TX.

Written by Sara East
Written by Sara East

Insurance doesn’t have to be boring. That’s why we hired Sara East to be our BA insurance writer. Maggie specializes in making mundane subjects hella-entertaining.

Reviewer: Jeffrey Green Reviewed by Jeffrey Green
Reviewer: Jeffrey Green
Reviewed by Jeffrey Green

Jeff Green has held a variety of sales and management roles at life insurance companies, Wall street firms, and distribution organizations over his 40-year career.  He was previously Finra 7,24,66 registered and held life insurance licenses in multiple states. He is a graduate of Stony Brook University.

Woman hugging her mother before helping her with her finances on a laptop. Find Dallas Texas life insurance.

Dallas, TX is home to over 1.3 million people who enjoy the city's bustling art scene, cultural activities, and booming economy. Even though a majority of the population is under 65 years old, it's never too early for Dallas residents to start thinking about life insurance.

Life insurance provides financial assistance for your loved ones when you die. Finding the best life insurance in Dallas, TX starts with a local independent insurance agent. Agents are located right in the city and can help you evaluate your family’s coverage requirements and compare a variety of Dallas life insurance quotes.

What Does Life Insurance Cover in Dallas, TX?

Life insurance is unique in several ways including the way it pays out and what it is used for. A policy only pays out once the person holding the policy passes away and the funds that are paid can be used however the beneficiary chooses. 

There are no guidelines or limitations on how someone can use the life insurance money they receive upon your death. With that said, life insurance is typically used for certain costs including:

  • Funeral and burial costs
  • Ongoing monthly bills
  • College tuition
  • Mortgage
  • Debt
  • Donations to charity

When determining your life insurance policy amount, you'll want to consider all of the possible bills and debt you'd be leaving behind to your loved ones. Life insurance can also be used for future plans, like college tuition or a down payment on a home for your kids.

How Much Does Life Insurance Cost in Dallas, TX?

Life insurance premiums are based on factors such as how old you are when you purchase, your gender, your health, the amount of coverage you purchase, and the type of coverage you buy.

There are two main types of life insurance, term and permanent life insurance.

  • Term life insurance: Term life insurance is popular because it is usually the cheapest. These policies are only meant to last for a certain amount of time, such as 10, 20, or 30 years, or for a maximum age, like 65 years old. Ordinarily, term policies only pay a death benefit and do not have an accrued cash value.
  • Permanent life insurance: This includes whole and universal life. This type of coverage does not expire but stays in force as long as the premiums are paid. These policies might also grow a cash value in addition to providing lifetime coverage.

The type of life insurance that is best for you will depend upon your financial goals, current budget, and coverage requirements. Term is cheaper to purchase, so many families can afford larger coverage amounts. Whole and universal life can provide lifetime coverage and may grow a cash value that can be used as an asset in the future.

You can discuss your unique situation with an independent agent in order to figure out which strategy will be best for you.


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Is Life Insurance Required in Dallas, TX?

Life insurance is never a required type of insurance but can provide a sense of financial stability for your loved ones when you pass away. A good way to determine if you need life insurance is to calculate your current expenses and expected expenses as you age and determine if your loved ones would be able to continue to afford the bills without your financial contributions. 

Life insurance can also be purchased for the sole purpose of helping to pay for funeral costs which can get expensive. In Texas, the average costs associated with death are $16,460. That can be a heavy financial burden for someone if they're not expecting it.

Life insurance stats in the US

  • 52% of Americans have life insurance
  • 42% of people would face financial hardship within six months if the head wage earner of the house unexpectedly died
  • 31% of people say COVID has made them more likely to purchase life insurance
  • 59% of uninsured people say they need life insurance

Older adults may be more inclined to purchase coverage than young people. Older people have had more time to accumulate responsibilities like a mortgage, a spouse, and children. However, some young adults purchase coverage to take advantage of lower rates.

What Are the Best Life Insurance Companies in Dallas, TX?

Finding the best life insurance companies in Texas starts with comparison shopping with a local agent. Shopping multiple insurance quotes can help you find an insurance company that will give you the best policy for your needs at a price that fits your budget. 

Agents in Dallas are well-versed in purchasing life insurance from local carriers and will know whose policy can best be customized to benefit you and your family.

How Can an Independent Insurance Agent Help Me Find the Best Dallas, TX Life Insurance?

Even in this major city, you can find personal service and custom-tailored plans from a local independent insurance agent. These agents will help you assess your needs, suggest policy options, and compare life insurance quotes in Dallas, TX for you. Work with an agent right away for more information about Dallas life insurance.

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