Grand Prairie got its name because the area between Dallas and Fort Worth used to be called "the grand prairie of Texas" on railroad maps. Now this region is part of one of the largest metropolitan areas in the United States, and home to thousands of families. If you have loved ones who depend on your income for housing, education, and daily expenses, life insurance can give you peace of mind that your needs will be met when you are gone. You can find a Grand Prairie, TX life insurance policy without leaving your hometown.
An independent agent in the Trusted Choice® network can help you make an informed choice when you need to buy coverage. These local agents work with many insurance companies, and can help you assess your coverage needs, choose policy options, and compare a variety of Grand Prairie life insurance quotes. Get in touch with one of these local agents today to get the honest answers you need when you shop for life insurance.
Life Insurance Prepares You for the Unexpected
Since the 1970s, the top five causes of death in Texas have been the same, with rare variations in ranking:
- Heart disease
- Lung disease
Even if you make healthy lifestyle choices, no one is guaranteed a long life free of accidents or illness. Life insurance helps your family prepare financially for an unexpected loss by ensuring a guaranteed source of funds in the event of your death.
The cost of coverage varies widely, depending on many factors, including the type of policy, death benefit amount, contract length, as well as your health and lifestyle choices.
Grand Prairie life insurance contracts are usually long term commitments. Even a small monthly price difference can add up to hundreds of dollars over the course of a few years. The key to finding the best deal is to comparison shop. A Trusted Choice member agent can provide several quotes from a variety of companies for free.
Common Grand Prairie Life Insurance Policy Types
The two basic types of life insurance are permanent and term. The major difference between them is that term life insurance lasts until a specified age and can only pay a death benefit, while permanent life insurance lasts a lifetime and can accrue cash value in addition to paying a death benefit.
These are the three major categories of life insurance:
Whole life insurance: This is once-and-done, permanent insurance policy that protects you and your family at a steady, guaranteed rate. Whole life insurance is an asset that accumulates cash value as you pay into it, month after month. The benefits, rates, and payments are locked in at the beginning of the policy, and remain the same until the end of your life.
Universal life insurance: This is another type of permanent insurance. It lasts for the length of your life, but the rate and death benefit amount are flexible. Universal life insurance accrues cash value, like whole life insurance. It also allows special coverage apart from the death benefit, such as:
- Income replacement
- Funeral costs
- Debt payment
- Estate liquidity
Term life insurance: This is the simplest type of temporary coverage. It expires at a certain age or after a certain period of time (say, 30 years), and provides a specific death benefit amount to your loved ones if you pass away before the term ends. Term life insurance is generally cheaper than permanent insurance, but as your age increases, you may find it more expensive to continue to purchase coverage.
You may find other policy options useful, such as joint coverage for yourself and other family members. Also, some health insurance policies allow you to add on life insurance as a rider. A local agent can offer tailored suggestions to maximize your benefits and minimize your cost and effort.
Who Needs Grand Prairie Life Insurance?
If your spouse, children, or other family members depend on you for income, life insurance can protect them from financial difficulties after you are gone.
- 39% of Americans believe they don't have enough life insurance
- In 2009, U.S. citizens purchased 10,139 new life insurance policies
- Over 50% of Americans aged 25 to 34 have life insurance
- 18% of Americans under the age of 25 have life insurance
The Texas Department of Insurance (T.D.I.) recommends that you evaluate your own life insurance needs. You might enlist the aid of a financial planner who can help you figure out how much your beneficiaries need if you were to pass away unexpectedly. Major considerations could be an outstanding mortgage, children’s education costs and other debts and expenses. An independent agent can help you find the life insurance coverage that suits your family's needs.
Compare Grand Prairie Life Insurance Quotes
Life insurance shopping does not have to be difficult or time consuming. An independent agent works with several insurance companies to find the coverage that is right for you.
Let a local Trusted Choice member agent assist you with your insurance search and get free, competitive Grand Prairie life insurance quotes in no time. Contact one of these member agents right away to find out more about Grand Prairie life insurance plans and prices.