BRYAN, Texas (KBTX) — Life moves fast and can bring unexpected changes, so it’s always best to be prepared, especially when it comes to life insurance.
According to Bradley Hurt of the Service Insurance Group, life insurance can be an essential part of taking care of those you might leave behind.
“It can be very important if the unfortunate event were to happen, where you don’t live the long life that we all hope to live. If you’re leaving survivors like a spouse and children behind or leaving expenses that aren’t covered, it can be very important to be careful.
Hurt says there are different types of insurance: term life, whole life and universal life, which will last until age 100.
According to Hurt, life insurance isn’t just for old people and young adults should start thinking about it as soon as possible. He says that with certain policies you can accumulate money.
“As I mentioned earlier, whole life or universal life can accumulate cash value,” Hurt explained. “Part of what you pay each month basically goes into a reserved account, and usually after 20 years you can withdraw that money. You can borrow against it. Some policies, once you’ve paid off in 20 years, you accumulate enough cash value in the policy and it’s paid for the rest of your life. “
The price of your policy depends on your age, state of health, profession, hobbies and habits.
For more information on life insurance or services, visit the Service Insurance Group website here.
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