Life Insurance: Term Life or Whole Life-Which is Best For You?

Life insurance is something that everyone needs, but no one wants to think about. When it comes time to buy your life insurance policy, you will need to decide the amount of the policy you wish to take out, as well as the type of insurance policy that is best for you. There are two main options to choose from; whole life and term life insurance. Both types of policies are beneficial, so it may be slightly overwhelming when trying to choose between the two. In order to help you make a decision, it is helpful to know the primary difference between the two options.

Term Life Insurance
One of the best advantages with term life insurance, is the cost. In most situations, you can buy a policy with a large face value for pennies on the dollar. A term life policy is typically purchased to cover a 20- or 30-year term. There are several values available to choose from and depending on the face value you select,  the benefits will provide your loved ones with the funds necessary to pay funeral expenses, debt and everyday living expense. The primary disadvantage with a term life policy is that it will eventually expire and it may be expensive to convert the policy to a whole life policy. This type of policy is typically purchased by those who are in their 40’s and older, simply because of the length of coverage. For example, if you are currently 50 and buy a 30-year policy, the policy would be valid until you turn 80.

Whole Life Insurance
The main advantage with whole life insurance is that as long as the premiums are paid up to date, the policy provides benefits for the entire life of the insured. Unlike a term life policy, whole life policies do not expire after a specified amount of time. If the policy is purchased early in life, it will be eventually paid in full and you will earn interest for the cost of the insurance. Another benefit of whole life insurance is that you can borrow against the policy and use the case in an emergency situation. A whole life policy can also be used to provide liquidity for tax. The main disadvantage is that these policies can sometimes be expensive and if the policy is not funded properly, it can become a financial burden.

Both term life and whole life have their benefits. It is best to discuss your options with your insurance agent to determine which policy is best suited for your individual needs, including your budget, your age, and future plans. With proper planning, either plan will provide you with peace of mind in knowing that your loved ones will be taken care of, should anything happen to you.

Residents of San Antonio, TX should contact Access Insurance Services to review their current life insurance policy or to start a new policy.

Premium or Regular Gas, Which is Better for Your Car?

Your car is important to you, as it should be. For many the age old question, premium or regular gas, is a daunting one. Knowing what is best for your car can truly make a world of difference and help you decide what gas is right for your car.

It is helpful to first understand what the difference in gasoline grades is. The higher grade the gas the higher temperature that it burns at and the purer the gasoline is. This means that there is going to be less build up in your engine and that there are going to be far less impurities introduced to your system. This does not mean that premium is necessarily the best gas for every car simply that for many, it is the option that they choose.

Now that we know the difference, which is better for your car? This is an answer that is a bit harder to find. Some say that the  higher temperature makes for less build up and that the lesser impurities make premium gas best for all cars all the time. The problem is that not everyone can afford to pay premium gas prices every time they fill up.

Running regular gas through your car is not going to lock up your engine or ruin your car, it will save you money and over time it does have the potential to leave deposits and build up in your engine. There are other factors to consider however. Over time the age of your car is going to become a factor and the build up in your engine is not going to be the only thing slowing you down. 

A great rule of thumb is to run a tank of premium gas through every now and again or to get a great gas cleaner. Access Insurance Services wants you to be safe on the road no matter what gasoline you choose to use.