Paige Cerulli Last Updated On: August 28, 2023

How to Find the Best Life Insurance in Texas

Buying life insurance gives you the peace of mind of knowing that your family will receive financial support in the event of your death. But finding the best life insurance in Texas can be a bit overwhelming, especially if you’re just starting to explore life insurance policies.

We’ve outlined the must-know information that you need to get started shopping for life insurance in Texas, including details on average policy costs and what to look for in a policy.

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Table of Contents

The Average Cost of Texas Life Insurance

The average cost of life insurance in Texas is $633 per year, which comes out to $53 per month. Many factors impact your life insurance costs, including your age, health status, risk factors, occupation and the amount and type of coverage you want to purchase.

The Texas Department of Insurance regulates the Texas insurance industry, and insurance providers must adhere to the department’s regulations. Most Texas life insurance policies have a 31-day grace period, meaning if you miss a payment, your coverage won’t be canceled for 31 days, giving you extra time to make that payment. Providers of life insurance in Texas cannot deny your life insurance claim if you die more than two years after purchasing your policy.

Since the cost of life insurance in Texas can vary significantly depending on your personal details, getting life insurance quotes in Texas will give you the most accurate idea of what you may need to pay for coverage. You can get a free, personalized life insurance quote today from ConsumerCoverage.

What to Consider When Choosing the Texas Life Insurance

When shopping for the best life insurance in Texas, it’s important to determine how much coverage you need. Think about the bills that your family will need to pay even if you pass away, like your mortgage, children’s education expenses, and more. Weighing all of these costs can help you to determine how much coverage to buy. Once you’ve determined the amount of coverage you need, you will also need to decide on what type of policy is best for your needs:
  • Whole life insurance offers lifetime coverage and is a permanent policy. If you die, your family is guaranteed to receive a payment. Your policy also has a cash value, and it earns interest at a fixed rate.
  • Universal life insurance also offers lifetime coverage, but you have the option to raise and lower your premiums within limits. Your policy will also earn interest at a variable interest rate. While that variable rate means you could earn more, if the investment underperforms, then your premiums might increase.
  • Variable life insurance combines a lifelong insurance policy with a cash-value investment. Since the cash-value investment is typically in mutual funds, the value of that investment may fluctuate.
  • Term life insurance guarantees your family will receive a death benefit if you pass away. This type of coverage is good for set terms, like 15 or 20 years. If you want to extend the coverage, you can usually renew the policy at the end of your term.

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How to Find Cheap Life Insurance in Texas

To find cheap life insurance in Texas, consider taking advantage of any employer-sponsored life insurance programs. These group programs often cost less than buying your own individual insurance. You may also be able to save money by making lifestyle changes like quitting smoking or getting regular exercise.

Some life insurance providers may offer discounts to save you money. Some providers will discount a certain amount of insurance, like a policy for $350,000. With a discount, your $350,000 might cost less than a $300,000 policy.

Shopping around and comparing Texas life insurance quotes is another great way to save money while finding the right coverage for you. To get started, get a free, personalized quote from ConsumerCoverage today.


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