Life Insurance in Dallas-Fort Worth

Life Insurance in Dallas-Fort Worth

In life, as well as in life insurance, everyone's hopes, needs, wants, and dreams are not the same. That is why it is best to consult an agent from Team Pryor Group to assess your needs and help you find a policy that is right for you. 

A life insurance policy is a contract with an insurance company. In exchange for your premium payments, the company provides a lump-sum payment, known as a death benefit, to the beneficiaries upon the death of the insured party. Typically, the policy's value is based on the needs and goals of the owner.

Employers often offer life insurance options to their workers through a group plan. Workers also can arrange their own policy outside of the group plan.

Term vs. Whole Life Insurance Policies

When you opt to have a life insurance policy, you have two options for the way the policy is structured. It can be a term policy or a whole-life policy.

With a term life policy, you are covered for a set number of years at a specified rate. Typically, the time frame is 10, 15, 20, 25 or 30 years. Once the policy expires, a new term policy can be put in place at a rate negotiated at that time.

Whole life policies provide permanent coverage with guaranteed premiums and a guaranteed cash value. The policy does not expire, the premium does not increase, and the guaranteed cash value continues to build if you choose to cash it out rather than using the death benefit.

Choose Between a Group or Individual Policy

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Life insurance policies, like health plans, can be chosen on a group or individual basis. With employer-sponsored group coverage, an employer usually will:

  • Select the company that provides coverage
  • Provide a specified amount of life insurance for a small monthly premium or for free
  • Allow you to add to the death benefit by deducting additional premium payments from your paycheck
  • Provide your plan documents
  • Answer questions about your plan

Employees who decline a group plan can arrange for individual coverage. By rejecting employer-sponsored life insurance, an employee must:

  • Shop for and choose a plan that covers you and your family
  • Purchase your own plan
  • Make all monthly premium payments
  • Research & manage all of your coverage benefits

Embrace Team Pryor Group for all of your Life Insurance Needs

Creating a life insurance plan for yourself or your employees can be a challenge. But it is a benefit that is well worth the effort. When you need to to take this step in the Dallas-Fort Worth area, you need to contact Team Pryor Group online or give us a call at 214-932-1718. For years, our proven professionals have provided perfect policy options for customers throughout DFW.

 

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