817-485-5050 info@schwabagency.com

The Good and Bad of a Term Life Insurance Policy

A life insurance policy is one of most important insurance policies to invest in, as it provides financially security for your loved ones after you are gone. When looking for the right policy, there are two main options, a term life policy and a whole life policy. There are many pros and cons that are associated with a term life insurance policy that can help you make the decision of what policy you should invest in.

The pros of a term life policy, include:

  • Price – term life insurance policies are the least expensive life insurance policies that are available, and are much less expensive than a whole life policy.
  • Coverage for short-term needs – a term life policy will provide coverage for any temporary obligations, such as paying off a mortgage in case you pass away before you are able to.
  • Understandable – term life policies are very simple, providing pure protection for when you pass away without any complicated variables.
  • Conversion options – typical term life policies give you the option to convert them into a whole life policy without having to show proof of your current health situation.

The cons of a term life policy, include:

  • Increasing costs – although the cost of a term life policy start low, they can dramatically increase after the initial guaranteed period ends.
  • Has a deadline – term life policies are not meant to last your entire life, they are only meant to last for a certain amount of time. If you outlive your policy, your coverage will end.
  • No cash value – term life policies do not have the option to build equity over the life of the policy.

For all of your life insurance needs and to ensure that your loved ones will be well taken care of after you are gone, contact The Schwab Agency in Colleyville, Texas.

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The Schwab Agency

The Schwab Agency, LLC has over 20 years of experience within the insurance industry in our community and our goal is to bring you unparalleled service and dedication. Since the majority of our business is through long-lasting relationships with our clients, fulfilling your needs is of the highest priority.

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