Modern Risk Management. in Houston, TX, offers insurance solutions to protect you from life’s unpredictability. We understand the importance of the right coverage, including having the right life insurance policy. 

1. Your Beneficiary Won’t Have to Pay Taxes on Death Benefit 

In most cases, your beneficiary won’t have to pay taxes when they receive the death benefit. This can help your family maintain financial security if you pass away. 

2. Many People Don’t Have Enough Coverage 

Most people in the U.S., 60%, have some life insurance. However, 25% of those with insurance believe they need more coverage than their current policy provides. 

Many people only have a policy through their employer. However, the standard employer policy provides $100,000 in coverage, which is far less than most people need. 

3. Life Insurance Can Be Confusing 

83% of those who don’t have a life insurance policy say that they would consider purchasing one if it was easier to understand. Confusion can occur because there are different types of life insurance policies. Different policies also have different requirements and coverage amounts, which can also be confusing. 

However, buying life insurance doesn’t have to be complicated. Working with the right insurance company can clear up the confusion, allowing you to choose the policy that meets your needs. 

4. There are Two Basic Types of Insurance 

The two basic types of insurance are whole life and term life. Whole-life policies are designed to last for your entire lifetime. They typically have fixed premiums and a fixed death benefit. They also provide cash value. 

Term life insurance is held for a specific term, typically 15 to 20 years. It doesn’t have a cash value. 

Life Insurance with Modern Risk Management 

If you need life insurance in Houston, TX, or want to update your current policy, contact us at Modern Risk Management. Our trained agents are here to help you select the right insurance coverage for your needs.