225 S. Cage Blvd.

Pharr, TX 78577

956-783-0060

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Frequently Asked Questions

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Can I use life insurance to help me save for retirement?

You probably know that life insurance pays money to your loved ones after you die. (It’s called a “death benefit.”) But some types of life insurance can also give you money to use while you’re still alive. They build what’s known as “cash value.” One of the possible uses for that money is as retirement savings.

Is it less expensive to buy life insurance when I’m young?

It’s tempting to put off buying life insurance when you’re young, especially if you’re just starting out and money is tight. But there are two good reasons to buy life insurance now instead of waiting.

Life insurance through your workplace

Sometimes, when you take a new job, you are offered life insurance through your employer as part of an employee benefits package. If you’re given this chance, it’s often a good idea to accept that coverage. But here are some things to keep in mind.

Protecting your loved ones with life insurance

Losing a loved one to suicide is a tragedy no family should have to face. When this unfortunate event does occur, family members may wonder if they will be able to collect on their loved one’s insurance policy, if such a policy exists. The answer is, it depends.

Which Companies do you work with?

The Auto & Home Program works together with top-rated companies to make auto and home insurance, along with potential discounts, available to credit union members. By asking you a few questions upfront, we can direct you to the right company to help you get the right insurance.

Do I have to buy auto and home insurance?

In most cases, auto owners and homeowners are required to buy some type of insurance, but this can vary depending on your situation. Read on for more details.

Auto Insurance
Almost every state requires you to buy auto insurance to protect against liability. And if you’re taking out a loan to buy your vehicle, it’s likely the lender will require you to buy an insurance policy to protect its value.

Home Insurance
Unlike auto insurance, it’s possible to own a home without carrying insurance in some cases. However, if you have a mortgage on your home, it’s likely your lender will require you to carry a homeowner’s insurance policy. Also, insurance whether they have a mortgage or not.

Even if you don’t have a mortgage, it’s a wise choice to protect the value of your home and its contents with a homeowner’s insurance policy. This insurance will also help protect you from liability if someone is injured on your property.

Is life insurance taxable?

The answer is — it depends. Many people ask about life insurance and taxes. Let’s answer a few of the most common questions asked about taxes and life insurance.

Do I need a physical before getting life insurance?

A life insurance physical is similar to a basic physical exam. Your insurance company should let you know what kinds of tests you will receive before your exam. But there are some types of insurance that do not require a medical examination at all.

Do my senior parents need life insurance?

talking about life insurance with your senior parents is important. The sooner they act, the easier it will probably be to get the coverage they need. Learn how to get the conversation started and help your family plan for their future today.

When does a term life insurance policy pay out?

And how long does it usually take? Typically, term life insurance benefits are paid when a beneficiary files a death claim with the insurance company. Many states allow insurers 30 days to review the claim after receiving a certified copy of the death certificate. Learn more about the process.

What will happen when I call?

A licensed agent at one of the top-rated insurance companies we work with will answer your questions and give you friendly, helpful information—with no sales pressure.

When you’re ready to get a quote, an agent will ask you some questions and walk you through your options. It’s a good idea to have a copy of your current insurance policy handy to compare coverage and features. That way, it’s easy to see how much you could save if you switched companies.

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