817-485-5050 info@schwabagency.com

Life Insurance

when to review life insurance

Life insurance protects your family from experiencing financial hardships if you pass away while they are still relying on your income. For many families, having a solid life insurance policy in place means your family doesn’t have to worry about losing their way of life if a disaster strikes. It’s important to have your life insurance policy reviewed occasionally to ensure you always have the right amount of coverage.

When Your Financial Obligations Change

A good time to review your existing life insurance policy is when your financial obligations change. This can mean the loss of your job. It can also mean a major promotion or the purchase of a new home. Understanding how your budget changes will allow you to plan how your life insurance policy should also change. Financial obligations can also mean that your business may not be functioning the same without you to guide it. These decisions can be hard for a family to deal with.

Children Move In/Out

Starting a family or adding another child are also good times for a policy review. The same is true when your children grow up and start to move out of your home and into one of their own. Empty nesters can often save a lot of money if they review their life insurance policy and start living life for themselves. Many people still choose to carry larger policies so that each child or grandchild gets a small inheritance.

Getting Married

When you get married, you not only gain a partner, but you also get extra liabilities. This is true when it comes to any financial debt as well as how much money your partner brings into the household. Once you have tied the knot, call your insurance agent and ask for a review of your life insurance policy. By reviewing your policy after you get married, you can include your spouse and make determinations for their needs as well.

Ready to Retire

Another good time to request a review is if you have made the decision to retire. While most people have the financial means to retire comfortably, others may not be so lucky. Reviewing your life insurance policy may give you a good idea of what you may need to be doing to secure your spouse’s future if something were to happen to you.

If you are looking for a quality life insurance plan and are not sure about the pros and cons or more. Contact the experts at The Schwab Agency for a policy review and to have all the answers that you are searching for.

life insurance coverage

There are many doubts when it comes to getting life insurance. Most of the time, it is purchased for risk management in case of sudden sickness or death. Do you still wonder whether life insurance is a worthwhile investment or not? The following facts will help you make an informed decision.

No Taxes on Interest

Investing money is art, and not everybody is good at it. Some of the best life insurance plans will have options where you will not be required to pay taxes on any interest or capital gains until you decide to withdraw the proceeds.

The Benefit of Paying the Premium on Time

Permanent life insurance plans allow you to keep the policy for as long as you want, provided that you pay the premiums on time. If you have dependents and are worried about their wellbeing after you are gone, then permanent life insurance plans are just what you need.

More Benefits If You Are Sick

Depending on the cause of your death, your family will be able to receive 25% to 100% of your life insurance death benefit. You can also take advantage of the accelerated benefits of term insurance in case you fall sick. You can use the benefits to pay your medical bills.

Borrow Against the Cash Value

You can always borrow money against life insurance’s cash value, for urgent situations like paying tuition fee, unforeseen medical expenses, etc. Other investment plans do not allow you to take out money for such emergencies.

While looking for life insurance in Colleyville, Texas, research well before deciding on a plan. Need assistance in choosing the best policy? Contact the experts at The Schwab Agency. We are ready to help you with all your coverage needs.

summer risks to your house

While summer can be a great time to play in your backyard and enjoy some outdoor activities, it is also the time when you need to stay safe from storms and bugs.

Here are some of the common summer risks and ways to prevent them:

Dangerous Bugs and Caterpillars

When playing outside, children can get skin problems, including stinging, redness, burning, and itching if they are exposed to bugs and caterpillars.

Teach your kids to stay away from disease or infection-causing bugs or insects.

Pests can cause minor or major skin problems, depending on whether you are allergic to them. It is good to check for the signs of bugs around your home and use bug spray or organic pesticides to kill them.

Wire Grill Brushes

Metal bristles on your grill brushes are one of the typical summer backyard dangers.

The best prevention tip is to use a wooden scraper or a natural-bristle brush instead of a wire grill brush, as all the debris from such tools will burn away with the grill fire.

Tick Bites

During the warm summer months, ticks are seen in abundance and usually latch onto bare skin when you are in your backyard. Use insect repellent and low-intensity pesticide spray to prevent tick bites and Lyme disease.

Lawn Mower Injuries

While lawn mowing can be exciting in summer, it can also get disastrous if not done well. There is always a risk of limbs getting caught in the blades of the mower if you’re not careful.

To remain safe, it is best not to tinker with your lawnmower, and if you don’t know how to use a stump grinder, make sure to stay far away from it while it’s in use.

Follow these safety precautions to prevent summer risks. You can also ensure your loved ones’ safety by getting the right insurance policy. For assistance with all your insurance needs, contact the experts at The Schwab Agency in Colleyville, Texas. We will help you get the coverage you need.

mental health

There is a strong correlation between news and mental health. Reading or watching the news continuously can be stressful and affect your mental health. A lot of people experience anxiety and stress, especially while watching negative news. So how can you stay stress-free when there is constant negative news?

Here are some tips for coping with the anxiety that you experience from watching the news:

Set and Follow a Time Limit

Continuously watching negative news can impact multiple aspects of our lives, including sleep, work productivity, and interactions with people. The best strategy to remain stable while being updated on what’s happening around you is setting time limits to watch the news.

Don’t Watch the News Immediately

We generally have a habit of staying glued to news channels or social media sites, especially in times of natural disasters, pandemic, and fire accidents. However, do not watch the news immediately after a disaster strikes, as it takes some time for journalists to get the correct facts. It is best to wait until the news channels flash more  accurate news. Watching half-truths and speculation can increase your anxiety and stress levels.

Do Not Focus Only on Bad News

Taking care of your mental health is important, especially in distressing times, including the COVID- 19 pandemic and natural disasters. Rather than just focusing on negative news, make an effort to watch good news, which can relax your mind and boost positivity. While you need to remain on top of what is going on in the world, it is also essential to take care of your mental health to stay uplifted, motivated, and hopeful.

Step Back and Recharge

Rather than continuously being exposed to the distressing news, it is good to do some other activities that you enjoy to change your mood and redirect your thoughts from negativity. It helps you regulate your emotions and make positive connections.

Follow these tips to stay updated without compromising your mental health. Another thing that would help you get peace of mind is getting the right insurance to keep your family secured. Contact the experts at The Schwab Agency today for assistance with all your insurance needs and questions.

girl chatting in laptop

Coronavirus has changed the way we work and socialize. While staying in self-isolation and practicing social distancing helps us stay safe, they also negatively impact our mental health. Follow these health tips to keep your mind healthy during the COVID- 19 social distancing:

Use Technology to Stay Connected

Make the best use of your phone to stay connected with your friends and family through video and audio calls. Talk about the happy times you spent together so you don’t feel you are alone.

Complete House Tasks

Our busy lives keep us from paying attention to our home. Use this time to paint your house and declutter your belongings. This will make your house look good while keeping you engaged.

Do Regular Workouts

Doing simple workouts every day for at least 30 minutes will keep you healthy, fit, and relaxed. A healthy body will lead to a healthy mind.

Read and Write

Spend some time reading and writing. The things you write now will create memories for the future.

Chat and Play With Family Members

Share your thoughts and play indoor games with your family members.

Meditate

Meditate for at least ten minutes a day to keep your mind calm and composed.

Limit Your Exposure to Negative News

Stay away from fake news about coronavirus. Watch or listen to reliable news that keep you informed about the current situation – but don’t overdo it.

Following these mental health tips during social distancing will keep you happy and healthy. Another thing that would help you get peace of mind is getting the right insurance to keep your family secured. For assistance with all your personal insurance needs, contact the experts at The Schwab Agency in Colleyville, Texas. We are ready to help you get the coverage you need.

filing folder labeled "life insurance"

What happens when your term life insurance policy expires?

One of the major concerns with term life insurance is that your coverage will eventually expire.  This is why many policyholders want to know what their options are as the end of their term draws near.  Here’s what you can expect once your term life insurance is set to expire.

  • Can You Lose Your Term Life Coverage?

When your term comes to an end, you don’t automatically lose your insurance.  You actually have the option to keep paying premiums and maintain your coverage.  However, there is a catch to this—once your term ends, your premiums will increase significantly.  Typically, most people cannot afford to keep paying such high rates, and they are forced to find a more affordable coverage option.  On the plus side, this option does help the policyholder avoid coverage gaps as they search for alternative life insurance.

  • My Term is Ending, What Are My Options?

If you are reaching the end of your policy term, then you have a couple of options.  If you are retired, your children are financially independent, and you no longer have ongoing financial obligations (debt payments, mortgage payments, etc.), then you can simply let your coverage lapse and go without life insurance coverage.

If you still need coverage, then the easiest and most common option is to buy a new term life policy.  While this will require you to go through the application and medical examination process all over again, this tends to be the most affordable life insurance option.  While your premiums will likely be higher than before (due to your age and health), your rates will be locked in for the entirety of your term, so you do not need to worry about sudden price hikes.

Finally, you may also have the option to convert your life insurance policy at the end of your term.  This option will allow you to change your term life policy into a permanent life insurance policy where you do not have to worry about your coverage expiring.  Please note that this option is not available on all term life policies and, even if it is, you might be subject to certain limits regarding when you can convert your policy.  For instance, many policies will only allow you to convert to permanent life within a specified window of time, usually within the first five years after the policy has been issued.  Other policies may require you to convert your policy before turning a certain age, usually before you turn 70.

This is what you need to know about your life insurance options when your term policy is close to expiry.  Do you need help securing the right life insurance coverage to fit your needs and your budget?  If so, then contact the experts at The Schwab Agency in Colleyville, Texas.  We are eager to get you the coverage that you need today.

wrapping holiday presents

Why life insurance is the unexpected but highly-appreciated gift that you should give this holiday season.

When most people think about buying gifts, they tend to focus on materialistic things like clothes, electronics, toys, and so on.  Are you looking to change things up and give a unique gift that actually shows how much you care?  Then giving the gift of life insurance is the perfect solution.  Here’s why you should consider giving life insurance to the people who matter most to you.

Who Should You Gift Life Insurance To?

Life insurance isn’t the best gift for everyone on your list.  Instead, it is best suited for the people who you love most.  Here are some of the people you should consider getting a life insurance policy for this holiday season.

  • Your Spouse– Typically, families only have life insurance for the spouse that acts as the primary bread-winner. However, you cannot overlook the financial impact of losing a spouse, regardless of how much money they make.  Stay-at-home parents provide tremendous value to the family, and without them, you would be left to care for your children, care for the home, cook, run errands, and a million other things that you don’t usually have to worry about.  This is why it’s important to protect your family from the loss of your spouse by securing a life insurance policy for them.
  • Your Children and Grandchildren– While you may not think about it, your kids or grandkids can benefit greatly from having life insurance. You can purchase a juvenile life insurance policy on behalf of your kids or grandchildren.  Because this is a permanent life insurance policy, it will accrue value over time, creating a comfortable nest egg for your loved one.  By the time your children or grandchildren turn 21, they can take over the policy, choosing to continue it or redeem it for its cash value.  Either way, this is a gift that will help them in the future.
  • Yourself– Don’t forget to take care of yourself this holiday season. If you do not already have a life insurance policy, then now is the time to get one.  Remember, life insurance is designed to offer financial stability for your loved ones.  So, when you get a policy for yourself, you are really giving your loved ones the gift of security.

Do you have more questions about giving the gift of life insurance?  If so, then contact the experts at The Schwab Agency in Colleyville, Texas.  We are ready to assist you with all your life insurance needs today.

parents with new baby

What new parents should know about life insurance.

If you have just had your first child or are about to, then you need to secure life insurance to protect the future of your baby.  If you do not know where to begin when it comes to securing life insurance, then here are some of the important things to consider before shopping for a policy.

  • Securing Life Insurance is Easier Than Ever

Many new parents put off getting life insurance because it feels too overwhelming and stressful.  However, the process of securing coverage is actually pretty straightforward.  This is especially true if you are applying as a young, healthy individual.  When you secure life insurance early, you have an easier time passing medical exams and can also lock in cheaper rates.  Now that most insurance companies allow you to request a quote online, there’s no reason to put off this coverage.

  • Stay-at-Home Parents Need Life Insurance Too

Many people assume that stay-at-home parents do not need life insurance because they don’t earn a salary.  However, this is not the case.  While stay-at-home parents do not earn money for the work that they do, their labor is still valuable.  Because they remain at home to watch the children, clean, cook, and run errands, the other parent is free to go out and earn a living.  If the stay-at-home parent were to die, then their partner might have to pay someone to handle their responsibilities.  When the stay at home parent has life insurance, their death benefit can cover the cost of childcare and household help so the remaining parent can continue to work.

  • Employer-Offered Life Insurance May Not Be Enough

Many employers offer life insurance as an employee benefit.  As a new parent, you should take advantage of this perk.  However, the coverage that your employer offers is limited.  Typically, an employer-offered life insurance policy only offers coverage equivalent to one to two times your annual salary.  As this will not be enough to support your family for an extended period of time, it’s best to supplement employer-offered life insurance with a personal policy.

These are some of the things that new parents should consider when securing life insurance.  Do you need help with your life insurance needs?  If so, then contact the experts The Schwab Agency in Colleyville, Texas, for assistance today.

woman reviewing insurance policies

What to look for when reviewing your insurance.

The end of the year is a great time to review and update your various insurance policies.  Updating your coverage now ensures that you are ready for whatever the new year throws your way.  Ready to conduct an insurance review but not sure what you should look for?  Here are some of the important things to look at when looking over your personal insurance policies.

  • If You Can Increase Your Deductibles

By now, you probably know that your insurance deductibles and your premiums have an inverse relationship.  This means that the higher your deductibles, the lower your premiums will be.  Policyholders are encouraged to assume a higher deductible as a means of saving money on their coverage.  So, during your review, look at your deductibles and decide if you can afford to raise them.  Keep in mind that you should never raise your deductibles to an amount that’s higher than you can comfortably afford, as this could prevent you from accessing your insurance when you need it the most.

  • If Life Changes are Reflected in Your Policies

Another reason to conduct a year-end review is to ensure that all your insurance policies are updated and accurately reflect your circumstances.  If you moved, got a new car, had a child, or made any other major life change, then it’s important to make sure that your policies reflect these changes.  Keep in mind that if your insurance provider does not have accurate information, then they can refuse to renew your policy and can even refuse to cover a claim.

  • If All Discounts are Applied

Finally, you should conduct a year-end insurance review to check to make sure you are getting all the discounts and reduced rates that you qualify for.  Changes in your circumstances often mean that you now qualify for discounts that you did not qualify for previously.  Make sure that all your discounts are applied to your policy to save a significant amount of money during the coming year.

These are some of the important things to look at when reviewing your insurance.  Do you need help managing your insurance review?  If so, then contact the experts at The Schwab Agency in Colleyville, Texas.  Our dedicated team is eager to assist you with all your personal insurance needs today.

elderly couple looking at their life insurance policy

What to look for in life insurance policies.

If it’s time to secure life insurance, then you may not know what you are looking for.  While your coverage needs should always take top priority, there are other features that you can benefit from having as well.  Here are some of the features you should look for in your life insurance policy.

  • Immediate Death Benefit Payout

Some companies offer a type of life insurance categorized as “simplified issue.”  Many people are attracted to this kind of life insurance because there are few questions on the application, and a medical examination is not required.  However, these plans will not pay out a full death benefit until after a two-to-three-year waiting period.  Obviously, this will cause financial problems for your loved ones you die immediately after securing the policy.  So, when choosing a policy, avoid simplified issue coverage and look for coverage that will start right away.

  • Automatic Payments

It’s a good idea to secure life insurance from a company that will set up automatic premium payments.  This way, you never risk paying your premiums late or forgetting to make a payment altogether.  When your premiums payments are automatically taken care of, you can maintain coverage and take extra responsibility off your plate.

  • Ability to Convert Your Policy

If you decide on a term life policy, make sure that you have the ability to convert your policy to a permanent one.  This way, you have the ability to secure lifelong life insurance coverage, without having to cancel your existing term life policy and wade through the insurance market all over again.

These are some of the things that you should look for when shopping for life insurance.  Are you looking for assistance with your life insurance needs?  If so, then contact the experts at The Schwab Agency in Colleyville, Texas.  Our dedicated team is eager to assist you with all your coverage needs today.

COVID-19 Update:


Due to new increasing cases of Covid-19 our office will be closed to the general public until further notice. Our team will still be working full-time in the office and here to assist with all your insurance needs. Please contact us via phone at (817) 485-5050 or email: info@schwabagency.com.


We hope everyone is doing their part to protect themselves and their loved ones during these hard times, and thank everyone for understanding our decision to do our part to help protect our staff and those in our community.


Tim Schwab.
President and Managing Partner