Hank Battle Insurance Agent
Serving North Texas
Phone: (972) 849-9611
Fax: (469) 361-6479
Life and Health Insurance Agency
Introduction To Life Insurance
Key Parties of the Life Insurance Policy
Policyowner: This is the individual who pays the premium. The owner of the policy has other rights under the policy such as receiving dividends, borrowing from the cash value etc., and may also be the insured, the beneficiary or another third party such as a creditor or business partner.
The Insured: The individual whose death causes the policy benefits to be paid. The insured may also be the owner of the policy.
The Beneficiary: The individual, organization, trust or even the insured named in the policy to receive the benefits of the policy
Life insurance Types and Uses
- Term Life – Coverage amount and duration of protection are specifically set in the policy.
- Whole Life – Provides protection for the duration of the insured’s life with the added feature of cash accumulation.
Personal uses include:
- A death benefit to cover final expenses and a source income.
- To create and fund an estate for survivors.
- Cash accumulation for retirement and other future needs.
- Availability of cash values to the policyowner.
- Help pay estate taxes.
- The sale of a life policy to a third person which allows the insured to receive a portion of the face amount while still living and suffering a terminal illness.
Business uses include:
- Funding buy-sell agreements to ensure continuation of business.
- Key person coverage.
- Funding of deferred compensation plans.
- Providing split dollar plans to valued employees.
a.s.c. understands life and health insurance providers and policies
Insurance plans are as unique as the people who depend on them. Finding a policy that will meet specific coverage needs requires a trained and experienced guide to ensure that the plan meets expectations when they are needed. That's were A.S.C. can help; Our expertise is understanding policies whether they are designed for the individual, families or groups.
Insurance companies providing coverage are as different as insurance policies are. Choosing a company with high ratings is important for your peace of mind but it is just as important to choose the one offering the best policy for your needs and goals. We make it our business to know which company offers the best policy for the coverage requirement of the client.
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A life insurance policy is a contract between the insurer and the policyowner which is enforceable based upon the contingencies defined in the policy. Whether for personal or business needs, life insurance provides a practical solution for economic uncertainties and losses. Planning ahead to protect a beneficiary against life’s unexpected hardships is the essence of a life insurance policy.