Restrictions on Texas Life Insurance Policies

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Austin, Capitol of TexasIf you want to know what low cost life insurance policies are available in Texas, then you’ve come to the right place.  We’ll provide all the information you’ll need to fully understand your life insurance coverage options for Texas life insurance.

Plus, we’ll show you where to find the low cost policies and how you can apply.  It doesn’t matter if you live in Texas, next door in a different state, or are just coming for a visit, because we can give you all your answers right here.

Texas Life Insurance Policy Types

You have a choice of 3 varieties of life insurance policies which can be found in Texas. These choices include:

  • Term Life Insurance
  • Whole Life Insurance
  • Universal Life Insurance

One common feature you find with both the Term and Universal Life insurance policies is that you can get the policies for different terms of time such as anywhere from 5, 15, or 25 years for example.

Term life and Whole life insurance policies are pretty straightforward and the policy exists in one format for the life of the policy. Universal Life insurance, on the other hand gives you more latitude in how you set up the policy to suit your individual needs.

If, for example, you decided to structure your Universal Life policy with your full life span in mind, you have the option of either paying a set premium which offers you a guaranteed death benefit, or opting to design your policy benefits based on the growth of the cash value accumulation instead of the guaranteed benefits.

Cost of Insurance

We offer all three of these life insurance choices in Texas which include term life insurance, whole life, and universal life insurances. The only exception we don’t offer is a sub-type of Universal Life which is called Variable Universal life insurance.

If you want a to get an idea of how much these policies might cost, then we suggest you sample the 10 or 20 year term quotes which you can find on our form to the right of this article.

We also offer you an instant online quote for guaranteed universal life quotes from anywhere between the age of 95 or 120. Unfortunately, we do not provide Whole Life insurance quotes, but if want some help or more information for this type of policy than call us directly for help for more information on a Texas whole life illustration at 877-996-9383.

Restrictions on Policies

It’s vital that you should know that Texas life insurance is no more expensive than what you would expect to find in another state.  If you were 40 years old and decided to take a out a 10 Term UL policy with Genworth Life Insurance, then the cost for the premium of this policy would be the same no mater if bought the policy in Texas, or if you bought it in California or New Jersey, or any of the other states.

Texas has a wide variety of life insurance products that have been approved for sale in that state as opposed to some other states which are more restrictive.  Generally, if there is a life insurance product which you can buy in another state, then it is most likely also available in the state of Texas.

How to Buy from Out of State

Let’s say you’re from a state like New York, that doesn’t have all the same options as Texas.  No problem.  Just remember your insurance needs when you go on vacation.

If a life insurance policy plan isn’t available in your state but is available in Texas then the easiest way to get that the policy is to go to Texas and apply for the policy. It doesn’t matter which state you live in either. So, when you’re looking for quotes on life insurance, you don’t have to strictly look in the state in which you reside. Take a look at what’s available in other states such as Texas. You just might find a better buy and it may well be worth your while to get the type of life insurance policy you want in Texas.

Naturally, Texans also have the same option of looking for better deals for Term, Whole or Universal life policies in their own neighboring states.  For more details on life insurance by state, see our State-by-state life insurance guide.

How to Apply

It’s real easy to do because you can apply right over the phone or request an insurance agency to send you an application.  The majority of life insurance policies do require you to take a short medical exam, but this will be at their expense, not yours.

The one thing you have to remember thought that if you are a Texas resident, or applying for a policy as a non-resident, then you, the owner of the policy, will have to sign the application in person.

If you on business or just visiting Texas form Alabama and you decide you want to apply for a life insurance policy in Texas, then you will have to use the Texas application forms.

Getting Started

We would advise you to get at least several quotes from at least 2 separate agencies before you submit a application to an agent. The reason is that some life insurance agents only represent certain life insurance companies or even only a single company which limits your choices. Shopping around is the best way to get most choices and the best deal.

We suggest you use an independent agent in Texas who can give you a full health assessment and help you choose from a variety of life insurance carriers.

We are one of these independent agencies, licensed with over 30 life insurance companies, so when you come to us for help, you’ll know the quotes we provide you are the absolute lowest prices available.  For more information or to get started with an application for Texas life insurance, sign up for some quotes using our instant quote form on the right or call us at 877-996-9383.