Life Insurance Products
We use unique, custom-built tools to help protect the ones you love and care about!
When it comes to your life insurance you want a team of experts to help walk you through the process to ensure you have the correct type of life insurance, and the correct amount of coverage all from a company that is financially strong enough to whether the economic storms that will occur over time. You want and need your life insurance company to be around when you need them most.
Using the strength and experience of our markets, we can provide you a unique custom life insurance plan at rates you can afford. We use unique custom built tools that allow us to help you decide on the right type of life insurance and the correct coverage amount and to place you with the correct company for your needs. No matter your unique situation, we have a company that can help and we would love to help you get covered.
How Can Life Insurance Help?
The proper life insurance program can help a family’s financial life remain unchanged, despite the emotionally devastating time they will face from loosing a loved one. Life Insurance can ensure there is adequate income to meet all financial obligations, ensure children or grandchildren attend college, provide Mortgage Protection, Eliminate Debt, and ensure the family is not burdened by any final expense.
Three Types of Life Insurance
The most popular life insurance is Term Life Insurance. We like to equate this type of insurance to renting an apartment. When you rent an apartment, you pay your rent until your lease is up then you move to the next place you want to live. That is how term insurance works, you pay a fixed monthly cost for the length of your term (normally 10, 20, or 30 years) then at the end of your term, you have some options, like renewing your term (for more money of course because now you are older), cancelling your life insurance, or depending on the company you may be able to convert it. Term is also the most affordable type of coverage. A good life insurance plan normally has at least some term insurance in the plan.
A more expensive version of life insurance is Permanent Life Insurance. While it is more expense it has incredible value. We compare this to owning a home. One of the benefits of owning a home is that the owner gains equity in the home. With permanent life insurance you gain equity. In other words and simply put, every month you pay your premium part of the money goes to pay the cost of insurance and part goes into a savings type account that you can tab into at a later date. Perhaps at some point you want to stop paying the premium (like when you retire and become on a fixed income) or you go through a hard time financially. You can then tap into that equity for it to pay the premiums for you. Just like you can refinance your home and access the equity, you can do that with your life insurance as well. While this is the most expensive life insurance, it also is the most flexible and provides the greatest living benefits.
A hybrid of the two types mentioned above is Return of Premium Life Insurance (ROP). We look at this as the best of both worlds (Term and Permanent Insurance). Imagine renting an apartment and at the end of your lease, your landlord calls you and says “because you have been such a great tenant, I am going to give you a 100% refund of all the rent you have paid”. That’s exactly what ROP insurance does. You buy it and your premium remains the same for the term (10, 20, or 30 years) then at the end of your term, the life insurance company sends you a check back for the entire amount of the premiums you have paid. It’s really that simple. This has quickly become one of the most popular types of life insurance.
How Much Life Insurance Do I Need?
Taking the time to calculate the correct amount of coverage is just as important as getting the coverage in place. Your loved ones are depending on you getting this right. That’s exactly why you want to utilize the team at Grimes Insurance Agency to help ensure this gets done correctly. We can help you figure out what you are needing and the correct amount of coverage. We recommend our clients carry six to 10 times their gross annual income. If you are earning $3,000 per month then we recommend you purchase $216,000 to $360,000. Sound like a lot of coverage, right? Trust us, there is a reason we recommend this amount of coverage and because of the markets we have available to us, you can leverage our markets and get this coverage really affordably.
Grimes Insurance Agency, Inc. Your Trusted Life Insurance Agency
We specialize in providing you life insurance that meets your needs-nothing more, nothing less. Contact us at 806-589-9565 to schedule a call with a licensed Life Insurance Specialist in our office today.
WE PARTNER WITH THE BEST
To ensure great service in the insurance world you have to work with the best. We do business with an elite group of companies.
This allows Grimes Insurance Agency to provide our clients with the highest levels of coverage at the lowest possible price.
Ready to take the next step?
Click the button below to start our quick get a quote process.