Life insurance: something that none of us want to talk about but something that we all need to understand. For years, we have said that life insurance is the most selfless thing you can purchase but things have changed a bit since then. Now, you can actually have your life insurance before passing away*. There are many different types of life insurance. Speak with one of our highly qualified agents today to find out what would make the most sense for you and your loved ones.

Life Insurance FAQ’s

What are some of the types of life insurance Red River Insurance Agency has?

Life insurance is not a one-size-fits-all service.  There are many types of life insurance we can offer you depending on your need.  Please don’t feel overwhelmed reading these.  We are here to help you make an informed decision:

• Term Life
• Increasing Term
• Decreasing Term
• Return of Premium Term Life
• Whole Life
• Universal Life
• Indexed Universal Life
• Guaranteed Issued Whole Life
• Final Expense
• Mortgage Life
• Credit Life
• Accidental Death and Dismemberment
• Living Benefits
• Waiver of Premium

Do I need life insurance?

If you have any loved ones, any debt, or any assets, you it is almost no question that you need life insurance.  Unless you are self-insured (have millions of dollars in assets over your debts and are financially independent).  Insurance can be as small or large as needed.  The last thing you want your family worrying about in the event of an untimely departure is how they are going to pay for everything.

Do my children need life insurance?

Getting life insurance for your child is one of the smartest things you can do in life to help set up your child’s future.  If your child comes down with a terminal illness (God forbid) and recovered into adulthood, it would be very hard for them to find life insurance, at least at any decent price, when they become an adult.  Getting them their own policy as a child would take away that need to get it later.  Your child can even become responsible for the premium once they get to a certain age.  Another thing you can do is simply add a child rider onto your life insurance policy.  When he/she becomes of age, they will be able to convert that to their own policy.  It’s called a “jumping juvenile” policy.

How much life insurance do I need?

There’s no cookie-cutter answer to a question like this.  There are many questions that must be asked to find out the most accurate answer.  Here are a few questions to ask:

• What percentage of the household income do I provide?
• Does anyone else depend on my income?
• How much money do I make a year?
• Have my children completed college?
• How much debt do I have compared to assets?
• Do I want to be buried or cremated?
• Would there be an estate tax to pay after my death?

When is a good age to purchase life insurance?

The younger you are, the lower the premium will be.  We all need different types of life insurance for different reasons throughout our lives.  If you are purchasing a house, graduating school, having a child, or just thinking about the future you should purchase life insurance.  Waiting until you are terminally sick could leave you high and dry.

Which life insurance carriers does Red River Insurance Agency represent?

There is an exhaustive list of insurance carriers we use for life insurance.  It would be hard to name them all in this section.  Here’s a list of a few of our most popular carriers:

• AIG
• Allianz
• American National
• AXA
• Columbian Financial Group
• Delaware Life
• Gerber Life
• GPM
• John Hancock
• Mutual of Omaha
• New York Life
• Penn Mutual Life Insurance Company
• Prudential Financial
• Transamerica
• United of Omaha
• United Home Life

*Qualifying circumstances only. Ask your life insurance agent for more details.