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Delgado Insurance Agency

9902 McPherson Rd. Suite 6,
Laredo, TX 78045

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Understanding Life Insurance: A Look at Different Policy Types

At Delgado Insurance Agency, LLC in Laredo, TX, we understand that clear and concise information can make the process of choosing the right life insurance policy substantially easier. This is particularly true when it comes to life insurance, a critical plan that protects your loved ones’ financial future.

Term Life Insurance

Term life insurance typically provides coverage for a specified period, often 10, 20, or 30 years. If the policyholder passes away during the term, beneficiaries will receive a death benefit. This is often the most affordable type of life insurance.

Whole Life Insurance

Whole life insurance, as the name implies, provides lifelong coverage. In addition to the death benefit, it includes a cash value component that grows over time and can be borrowed against.

Universal Life Insurance

This type of policy has a flexible premium that allows policyholders to adjust death benefits while having an investment savings element, which earns a market rate of interest.

Variable Life Insurance

Variable life insurance includes a fixed premium and a death benefit, with an investment component. The cash value is invested in a variety of investment options, which can lead to a higher cash value growth potential but also a higher risk.

Here at Delgado Insurance Agency, LLC located in Laredo, TX, we recognize the importance of choosing the right life insurance policy that meets your specific needs and financial goals. With a better understanding of these policy types, you are well-equipped to make a decision that ensures your loved ones are financially secured in your absence.

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