Life insurance is one of the most important financial protections a family can have, and one of the most commonly under-bought. Greenway helps Texas families compare term and permanent options to find the right balance of coverage, cost, and flexibility for the next stage of life.
What is life insurance?
A life insurance policy pays a tax-free death benefit to your chosen beneficiaries if you pass away during the policy period. The benefit can be used to replace lost income, pay off a mortgage, fund education, cover final expenses, or leave a legacy.
Why you need it:
- Replaces lost income for your spouse and dependents
- Pays off a mortgage so your family can stay in their home
- Funds future obligations like college tuition and weddings
- Covers final expenses (funeral, medical bills, debts)
- Tax-free benefit to your beneficiaries in most cases
What it typically covers:
- Term life – affordable coverage for a set period (10, 20, or 30 years)
- Whole life – permanent coverage with guaranteed cash value growth
- Universal life – flexible permanent coverage with adjustable premiums
- Final expense / burial insurance – smaller permanent policies for end-of-life costs
Frequently asked questions:
How much life insurance do I need?
A common starting point is 10–12 times your annual income, plus enough to pay off your mortgage and fund children’s education. We can run a personalized needs analysis at no cost.
Should I get term or whole life insurance?
Term life offers the most coverage per dollar and is right for most young families with temporary needs (mortgage, dependents). Whole life adds permanent coverage and cash value, useful for estate planning or guaranteed lifelong protection.
Do I need a medical exam to qualify?
Many policies still require an exam, but a growing number of carriers offer no-exam underwriting up to certain coverage amounts and ages.