Garrett Insurance Agency - Main Office
212 Sidney Baker Street S
Kerrville, TX 78028

Fax: 855-928-2121

Life Insurance

Life Insurance Information

Life Insurance in Kerrville TX & Fredericksburg TX

life insurance agency

Protect What Matters Most.

Financial security is something that we all work hard to build for our families. If you’re concerned that your death might lead to hardship for your loved ones, then life insurance is the solution for you. By buying life insurance now, you’ll create a resource that can benefit your financial future and legacy.

The expert team at Garrett Insurance Agency is committed to working with you to create the life insurance benefits that are best for your family. We understand how sensitive a task it can be to buy life insurance, which is why we offer every client the dedication, compassion and understanding that will help us understand your policy needs and make sure you receive the perfect benefits.

Common Life Insurance Questions


When Do I Need Life Insurance?

If you buy life insurance on your own life, then when you die, your family or other loved ones can receive financial assistance for expenses that you leave behind. 

Though your income might dry up with your death, life insurance can be there to help your survivors pick up the pieces. With the help of life insurance, they might be able to cover:

  • Funeral bills or other final expenses

  • Mortgages, car payments or other debts

  • Targeted costs like a child’s school tuition or a disabled relative’s long-term care costs

  • Everyday living expenses


If you dropped dead today, then you will leave financial obligations behind. Even if you don’t have a spouse or child yet, and even if you are just starting out after college, life insurance can make sure that you still have an easy way to passa financial legacy on to those you care about.

How Does Life Insurance Work?

If you buy life insurance for yourself, then you become the policy’s insured party. Therefore, the policy provides its primary financial payout, called a death benefit, upon your death.

However, because you won’t be alive to make the life insurance claim, you will name a beneficiary on your plan. The beneficiary is the person who receives the death benefit. Almost anyone can be a life insurance beneficiary, including spouses, adult children, close friends or even a charity of your choice.

When choosing your policy, you have the right to choose both the death benefit amount and the beneficiaries that are best for you, though there are some conditions to each choice. For example, you can’t name someone like a minor as the direct beneficiary. You can instead name a trust as the beneficiary, and when you die the money will go into the trust, which safeguards the use of the funds.

What Does Life Insurance Cover?


There are two primary types of life insurance:

  • Term Life Insurance: These plans only offer coverage for a certain number of years. For example, a 20-year term plan will only be active for 20 years. If you do not die during this term, then your plan will expire at the end. You must apply for new coverage to continue the benefits.

  • Whole Life Insurance: A whole life plan lasts from the time of enrollment until the end of your life. It will only expire if you fail to pay your premiums. Besides a death benefit alone, a whole-life policy will also offer cash-value investment opportunities. With a cash value option, a portion of your premium is invested into a savings account that accumulates value over time. You can then draw on this investment as a source of income during your own life.

More specific policy options such as universal, guaranteed issue and group life plans also exist.

Term life plans are generally more affordable than whole life policies. However, they will expire, and if you apply for another policy to re-start your coverage, then you might pay a higher premium you did previously

Whole life policies offer more consistency for policy management, and the investment incentives are valued perks for many policyholders. However, if you don’t have a need for additional investments or can’t afford higher premiums, then term life policies might be better for you.

How Much Life Insurance Do I Need?

Some people buy life insurance to cover costs with solid values. For example, you might buy a policy for the value of your mortgage or the anticipated cost of a child’s education. The death benefit can fund these costs if you are no longer around to pay them yourself.

On the other hand, some people calculate their approximate income and then choose a death benefit that represents several years’ worth of that amount. You’ll provide your family with money that represents what you could have brought home in your paycheck had you remained alive.

How Can I Keep My Life Insurance Affordable?

Life insurance premiums are based on risks, namely your risk of death. After all, if you die, then your policy will pay your death benefit.

Those with a higher risk of death will therefore likely pay more in premiums. It is always recommended that you buy coverage while you are young and have comparatively low risks of death.

Factors that might influence your risk rating include your:

  • Occupation

  • Tobacco use history

  • Age

  • Overall health

  • Pre-Existing conditions

Some individuals with high risks might not qualify for certain plans. Still, there are life insurance plans out there for everyone, and we’re here to help you find one.