life insurance texas

The Best Life Insurance Companies In Texas

life insurance texas

The Best Life Insurance Companies In Texas

Texas can get so hot that sometimes you might think you will just pass out and die right where you stand.

But, if you don't have life insurance you need to keep moving and get covered immediately.

We put together this post so that you can have quick access to the Texas Department of insurance as well as their guaranty association.

You will also find out information specific to the state of Texas and have a better understanding of why you need life insurance if you live in Texas.

Comparing Texas Life Insurance Quotes

What's The Free Look Period?

When you purchase your life insurance policy you still have what is known as the "free look" period in which you can return the policy.

If you use the free look period, the insurance company must refund you all of your monies and the the policy will be cancelled.

The average free look period is 30 days; however, each company can have a different period so it is best to check with them directly.

THE SIMPLY INSURANCE WAY

Life Insurance made easy.

Agents not required.

Get quotes and sign up online without talking to an agent. But, we are here if you need us. 

Unbiased, expert advice.

Get unbiased insurance education from licensed experts and also avoid dodgy sales calls.

Coverage in minutes.

You can get life insurance coverage within minutes of getting your quotes and applying.

How Life Insurance Rates Are Determined In Texas

Age

Age is going to be one of the largest factors when determining your life insurance rates in Texas. The younger you are when you purchase coverage, the more affordable it is going to be.

best term life insurance texas

Gender

Your gender is going to be the second largest factor when figuring out your life insurance rates. You will find that women are going to have much more affordable rates than men, primarily because they live longer than men on average.

Tobacco Usage

If you are a tobacco user, you can expect your rates to be upwards of 65% more expensive on a monthly basis. With Cancer being a leading cause of death in Texas, and since smoking increases your rates considerably, if you smoke, it's probably time to quit. 

Coverage Amount

The amount of coverage that you purchase will also change your rates.  The higher the coverage amount you purchase, the more expensive the policy will become.  

Term Length

Term length is going to be a factor because the longer the term length the more expensive a policy will become. However, don't let this fool you, if you lock your rates in for a longer term, you will actually save more money over time.

Current Health

Everyone is underwritten on an individual basis, this means that if you have a twin, their rates can still be different if their health is different.

Driving Record

Life insurance companies want to know that you aren't a crazy driver.  If you have a history of speeding, DUI's or DWI's you could be looking at higher rates or even a decline for coverage.


Top 10 Leading Causes Of Death In Texas

It is essential that you purchase Texas life insurance when you are young so that your rates are affordable.

  • Heart Disease - 45,440 Deaths
  • Cancer - 45,131 Deaths
  • Accidents - 13,059 Deaths
  • Chronic Lower Respiratory Diseases - 12,619 Deaths
  • Stroke - 12, 602 Deaths
  • Alzheimer’s Disease - 6,980 Deaths
  • Diabetes - 6,172 Deaths
  • Suicide - 3,227 Deaths
  • Kidney Disease - 3,172 Deaths
  • Chronic Liver Disease - 3,089 Deaths

A life insurance policy would cover all of the above deaths, including suicide after 2 years of having the policy.

INSURANCE WHERE YOU LIVE

Life insurance by state.

Texas Department Of Insurance

texas depatment of insurance

Website: Texas Department Of Insurance

Insurance Commissioner:  David Altmaier

Consumer Insurance Helpline:  1-877-MY-FL-CFO (1-877-693-5236)

Office Hours:  Monday - Friday  9:00 am to 5:00 pm

File a Consumer Insurance Complaint: Complaint Page

Find a Licensed Life Insurance Agent: Agent License Search Page

Texas Life & Health Insurance Guaranty Association

texas guaranty association

The Texas Guaranty Association was created to make sure that consumers were protected if a life insurance company become insolvent. Their contact info is below:

Website: Texas Life & Health Insurance Guaranty Association

Phone: (512) 476 – 5101

Address:
    Texas Life & Health Insurance Guaranty Association
     515 Congress Avenue
     Suite 1875
     Austin, TX 78701

Texas Guaranty Association Protection Limits

Each state has a specific limit that they can go up to in case your life insurance company fails.

  • Life Insurance Death Benefit: $300,000 per insured life
  • Life Insurance Cash Surrender: $100,000 per insured life 
  • Multiple non-group life: $5 million to one owner of multiple non-group life policies
  • Basic Hospital & Major Medical Benefits: $500,000 per insured
  • Long term disability and long term care Benefits: $300,000 Per Insured
  • Other supplemental types of health insurance coverage: $200,000 Per insured
  • Annuity Benefits: $250,000 per life
  • Structured settlement annuity benefits: $250,000 per Texas Resident
  • Allocated Group Annuity benefits: $250,000 Per life
  • Unallocated Group Annuity benefits: $5 Million Per Contract Owner    
  • Unallocated Group Annuity benefits: $250,000 Per plan participant
  • Overall Benefit Limit: $300,000 Per Single Life
  • Overall Benefit Limit: $500,000 Health Insurance Limit
  • Overall Benefit Limit: $5 Million Non Group Life Insurance Limit

THE SIMPLY INSURANCE WAY

Life Insurance made easy.

Agents not required.

Get quotes and sign up online without talking to an agent. But, we are here if you need us. 

Unbiased, expert advice.

Get unbiased insurance education from licensed experts and also avoid dodgy sales calls.

Coverage in minutes.

You can get life insurance coverage within minutes of getting your quotes and applying.

Taking Action

There is no need to wait when it comes to getting some life insurance in Texas.  

You can get immediate quotes and coverage by clicking here or on any of the above buttons. 

Feel free to leave a comment if you have any additional questions.


Life Insurance Reviews By State


  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • Washington D.C.
  • West Virginia
  • Wisconsin
  • Wyoming

Sa El

About the author

Sa El is the Co-Founder of Simply Insurance and a licensed Insurance Agent with over 12 years of experience in the industry.  He specializes in Life & Health Insurance and is certified in Long Term Care Insurance in the state of Georgia. He is also an Official Member of the Forbes Finance Council, a licensed real estate agent in the state of Georgia (License #382602), an entrepreneur, insurance educator, and freelance writer.


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