Life Insurance

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Life insurance is a contract between you and Texas Farm Bureau Insurance that involves the exchange of premium payments for coverage that will pay out money to a beneficiary after your death.

There are two different types of policies that you should consider as you start this process, term life and whole life.

Term Life - Typical increments of term life are 10, 15, 20, 25, or even up to 30 years. Term life is popular because the rate is often cheaper at an early age because the risk to the insurance company is less. Oftentimes in a term policy you are able to renew at the end of coverage, but at a higher rate because of the increase in your age.

Whole Life - Will cover you for the duration of your life and offers a fixed death benefit at the end of the policy. The value of the benefit typically will have a guaranteed growth rate tied to it, and the dividends earned can be used to reduce the premium.

Take care of your LOVED ones after you are gone. Think of what you bring to the family and what will be gone when you are gone. Grief, hardships and trying to figure life out without you. Don't make them worry about the finances as well.