What is The Main Difference Between Term and Permanent Life Insurance?

Not all life insurance policies are built the same, and it is important to know what type of policy you have. There are two main types of life insurance: term and permanent life insurance. The kind you have can make a big difference. To learn more about each type and the main differences, The Select Insurance Agency, serving Coppell, TX, has put together this quick guide. 

  • Term Life Insurance. Term life insurance tends to be less expensive. This may look good on the surface, but this is because it is a temporary type of life insurance and it has no cash value. In most cases, your beneficiaries will never receive a payout because most people do not end up needing their term life insurance policy. Term life insurance tends to only last for a few years or until a specific age. You can determine how long it will provide coverage by looking into your current insurance policy details. 
  • Permanent Life Insurance. Permanent life insurance, also known as whole life insurance, tends to be more expensive because the coverage lasts a lifetime and does not expire at a specific age or after a specific amount of time. Additionally, it has a cash value associated with it that will increase over time. There is a guaranteed rate of investment return on the cash value. You can also find fixed premiums to the cost does increase over time. This makes it ideal to purchase whole life insurance earlier rather than later. 

If you are interested in learning more about getting permanent life insurance policy, be sure to contact The Select Insurance Agency, serving Coppell, TX today. They can help you start your application and provide you some quotes for coverage. 

Do You Need Commercial Insurance If You Sell Makeup?

Although the days of door-to-door sales may be behind us, direct selling is still an avenue some folks in Coppell, TX take to earn money. Whether you sell make-up, books, or whatever – you may need to have an insurance policy to protect you if harm should occur. 

More than likely the company that you are employed by or that you are contracted through will have insurance to cover any customer problems. However, as a responsible contractor, it is a great idea to have the conversation before any problems arise. Also if you plan on going all the way with the company and perhaps getting to a level where you may have a company vehicle to procure more clients or pursue business, the vehicle and its viability for commercial auto insurance will come into question as well. 

Speaking with an insurance agent at The Select Insurance Agency about your liability policy will set your mind at ease as to what situations can occur or have occurred.    

Make The Select Insurance Agency the insurance agency you select. Visit our office at 500 S Denton Tap Rd #107, in Coppell, TX 75019 or call one of our agents at (972) 315-7299. If you reside or house your business in Coppell, TX or the surrounding areas, you owe it to yourself, your client base, and your company to consider having us write your commercial insurance policy.