Your business depends on you. Your family may, too.

Why self-employed Texans consider life insurance

If you are a freelancer, contractor, consultant, or sole proprietor, your income may support household expenses, debt payments, and future plans. Life insurance can provide money to designated beneficiaries if you die while covered. It is not a replacement for an emergency fund or disability coverage.

How much coverage might you need?

Start with your household’s ongoing expenses, outstanding mortgage or other debts, childcare, education goals, and the financial resources your family already has. Consider how many years of income support your household might need. There is no universal coverage amount that fits every business owner.

Term versus permanent coverage

Term insurance generally provides coverage for a selected number of years and can be useful when obligations have a defined timeline. Permanent insurance is designed for longer-lasting coverage and may include cash value, but it can have higher premiums and additional features to understand.

What to prepare before getting a quote

Have an estimate of your annual income, the amount of coverage you want, your current insurance, and relevant health information. Answer all application questions accurately. Product availability and underwriting decisions depend on the insurer.

Frequently asked questions