Best Life Insurance Companies in Mesquite

FAQs

• What are the advantages of variable universal life insurance in Mesquite, aside from lifetime protection?

  Individuals and families in Mesquite have the opportunity to earn higher rates of return on the cash value accumulation of their variable universal life insurance policies. They have the option of placing their money in the stock or bond markets. Additionally, if they are contributing the maximum amount to their insurance, they have the opportunity to build up additional savings accounts for their retirement.

• When should you consider acquiring whole or universal life insurance in Mesquite?

  If you want to leave a legacy to your loved ones in the event of your death, you should consider purchasing whole or universal life insurance in Mesquite. They can use the policy's accumulated cash value to pay estate or inheritance taxes. Furthermore, if you have lifelong dependents, you can purchase this type of insurance.

• What factors should I take into consideration when comparing life insurance coverage and cost in Mesquite?

  When comparing life insurance coverage and costs in Mesquite, make sure that the policy you choose fits your budget and needs. Your coverage should also be based on your age, overall health, and family size. Furthermore, you should consider what your major expenses might be in the future.

• Can mortgage protection insurance be helpful even if you already have life insurance in Mesquite?

  Yes, even if you already have life insurance in Mesquite, having mortgage protection insurance can help you protect your home. For example, if you die during the policy period, MPI will pay your mortgage payments. This type of insurance can cover the entire amount of the original mortgage, regardless of how much you still owe.

• What is covered by final expense insurance in Mesquite?

  In Mesquite, burial expenses not covered by Social Security are covered by final expense insurance. It safeguards family members against out-of-pocket burial costs. It can be used to pay for funeral homes, storage of remains, printing of memorial cards, and burial or cremation. In addition, the policy can cover the processing of the death certificate, flowers, headstones, and the casket.

• 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.