Ashford Insurance

Hurst Texas Life Insurance Agent: Sonia Ashford

Sonia, “The Medicare Insurance Lady”,  has been helping Medicare eligibles in Texas with their Medicare Insurance now since 2005. She has been married to John Ashford since 1982 and they reside in Bedford, Texas. They have six adult children and nine adorable grandchildren that they love to spoil. In Sonia’s limited spare time she enjoys quilting and crafting. 

Hurst Texas Life Insurance

Life insurance is a contract between an insurance company and an individual, in which the insurance company promises to pay a sum of money to the individual’s beneficiaries upon the individual’s death. There are many different types of life insurance policies available, each with its own set of benefits.

Some of the benefits of life insurance include:

  • Income replacement: If you die, your life insurance policy can provide a lump sum of money to your beneficiaries to help replace your income. This can help to cover expenses such as mortgage payments, car payments, child care, and college tuition.
  • Debt repayment: Life insurance can also be used to repay debts such as credit card debt, student loans, and a mortgage. This can help to free up your beneficiaries’ income so that they can focus on other expenses.
  • Final expenses: Life insurance can also be used to pay for final expenses such as funeral costs, burial costs, and estate taxes. This can help to ease the financial burden on your loved ones during a difficult time.
  • Peace of mind: Life insurance can give you peace of mind knowing that your loved ones will be financially secure if something happens to you. This can help you to focus on living your life to the fullest.

If you have dependents, life insurance is an important financial tool to consider. It can help to protect your loved ones from financial hardship in the event of your death.

Here are some additional things to consider when deciding whether or not to buy life insurance:

  • Your age and health: The younger and healthier you are, the lower your premiums will be.
  • Your financial situation: If you have dependents or a lot of debt, life insurance may be a good investment for you.
  • Your lifestyle: If you have a risky lifestyle, such as smoking or skydiving, you may need to pay higher premiums for life insurance.

It is important to shop around and compare different life insurance policies before you buy one. You should also make sure that you understand the terms of the policy so that you know what you are getting into.

Life Insurance

Life insurance pays out when the insured person dies.  The idea is to protect loved ones from a sudden loss of financial support. You could also use it to support your local charity. There are three basic types of life insurance that differ in their details.

Term life insurance is known as “pure” life insurance, because it pays out the death benefit if the insured person dies within the defined term, anywhere from one to thirty years. If the named person does not die, no portion of the premiums will be returned to the policyholder.  It simply insures against loss of life and has a relatively low premium reflecting this.  Most term life insurance policies are renewable and convertible.

Whole life insurance has no predefined term; it provides death benefit protection over the “whole” life of the insured, as long as the premiums are paid.  A whole life policy also combines an investment component with the insurance component: it accumulates a cash value that the insured may withdraw or borrow during their lifetime.  Compared to other forms of investing, life insurance policies tend to offer a relatively low rate of return.  Consult with someone knowledgeable about financial planning before choosing a whole life insurance policy.

Universal life insurance has a cash value determined by short-term interest rates versus the stated long-term rate of a whole-life policy.  Premium payments in excess of the cost of insurance are added to the policyholder’s interest-bearing account.  Although interest rates will fluctuate, they cannot fall below the policy’s stated guaranteed interest rate.  Consult with someone knowledgeable about financial planning before choosing a universal life insurance policy.