Best Life Insurance Companies in Corpus Christi, TX

FAQs

• Can you buy life insurance in Corpus Christi if you have pre-existing medical conditions?

  Yes, it is possible to purchase life insurance in Corpus Christi even if you have pre-existing medical conditions. However, the availability and cost of obtaining life insurance can be affected by the specific nature of your medical condition. Certain pre-existing medical conditions can make it more challenging to secure coverage and may result in higher premiums.

• Can you name a minor as a beneficiary on your life insurance policy in Corpus Christi?

  Yes, you can designate a minor as the beneficiary of your life insurance policy in Corpus Christi. However, if a minor is named as the beneficiary, the insurance company will not directly distribute the insurance proceeds to the beneficiary upon your passing. The court appoints an adult custodian to manage and oversee the funds on behalf of the minor until they reach the age of adulthood.

• Can you contest a life insurance beneficiary designation in Corpus Christi?

  Yes, it is possible to challenge a life insurance beneficiary designation in Corpus Christi. If you can provide evidence that the designation was made under fraudulent circumstances, through coercion, or undue influence, you may have a basis for contesting the beneficiary designation. This can involve legal action to potentially change the beneficiary or resolve disputes regarding the designation.

• Do you need a medical exam to get life insurance in Corpus Christi?

  You typically do not have to undergo a medical examination when applying for life insurance in Corpus Christi. However, insurance companies will inquire about your health and lifestyle during the application process to determine your eligibility for coverage and your premium rates. Note that while most policies do not mandate a medical exam, some may require one as part of the underwriting process.

• Can a life insurance company cancel your policy if you get pregnant in Corpus Christi?

  In Corpus Christi, it is against state law for a life insurance company to terminate or decline to renew a policy solely due to the policyholder's pregnancy. If you have concerns about your life insurance policy or require help with filing a complaint against your insurer, reach out to an attorney who handles insurance matters for legal advice.

• Which is better, term or whole life insurance?

  Life insurance is a personal financial tool, so the right type of insurance for you depends on your goals and current situation. One of the main differences between term life insurance and whole life insurance is that term life insurance only covers you for a set period of time. Once you meet the premium payment requirements on a whole life plan, it covers you for the rest of your life. Whole life insurance also builds cash value, making it a potential investment. But whole life insurance is typically much more expensive than term life insurance.

• How much life insurance do I need?

  A common recommendation is purchasing life insurance that is equal to five times your current salary, or more. But you can also estimate how much life insurance you need by adding up your debts, annual expenses for dependents multiplied by the years you want to ensure support, and any other items you wish to cover, such as a future wedding or college tuition.

• How does life insurance work?

  The details of how life insurance works depend on your individual plan, but the basics are as follows: 

  • You pay a premium to purchase the insurance. Typically the premium is paid monthly, but it could be rolled into quarterly, bi-annual, or annual payments. 
  • As long as you are meeting or have met premium obligations, if you pass away, the insurance company makes the agreed-upon payment to the beneficiaries you designated. 
  • Beneficiaries usually have to provide the insurance company with a death certificate to receive their payments.

• How much is life insurance?

  The cost of life insurance ranges widely. Term life insurance can cost as little as a few dollars a day, and whole life insurance can cost thousands per month on the high end. Factors that impact the cost of your life insurance include whether you're choosing term life insurance or whole life insurance, your age, how much coverage you want, your overall health, and your gender.

• Is life insurance taxable?

  Life insurance proceeds are the funds paid via your plan to your beneficiaries if you pass away. These are also called death benefits. Typically, these are not considered income for taxes. If you take out cash value from a whole life insurance investment and the amount exceeds how much you paid in premiums, the difference may be considered taxable income.

  
  

• Can I buy health insurance that is not Obamacare?

  When people say "Obamacare insurance," they typically mean insurance within the health insurance marketplace. You can get health insurance outside of the marketplace by going through your employer, choosing COBRA coverage if you leave your job, or buying a short-term health insurance policy through an insurance agent. ACA-compliant plans meet all the benefits and coverage requirements of the Affordable Care Act. But you may be able to find supplemental or short-term coverage that simply provides peace of mind for major medical expenses.

• Can I buy health insurance anytime?

  To buy health insurance in the marketplace, you must purchase it within open or special enrollment periods. But you can purchase short-term coverage to bridge the gap between now and the next open enrollment period. These plans are meant to be used for less than a year. You can purchase them online or via insurance agents, but they may not be ACA-compliant.

• Who should buy supplemental health insurance?

  Supplemental health insurance is a product that helps cover the cost of services that your primary health insurance policy doesn't. One popular option is secondary insurance that helps cover some of the costs associated with high deductibles. Medicare supplemental insurance is also popular. Medicare doesn't cover everything, and older adults on a limited income can face large prescription or medical bills after Medicare pays. Supplemental insurance helps reduce those patient costs.