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How to Use an Annuity to Protect Against Outliving Your Savings

September 29, 2025 by lambertagency

One of the biggest fears people have when they’re approaching or entering their retirement years is: What if I run out of money?

You’ve worked hard your whole life, you’ve saved, you’ve invested, but with market volatility, inflation, and an increasing life expectancy thanks to medical advancements, retirement can be challenging. Nowadays, it’s more difficult than ever before to properly predict how long your retirement nest egg will truly last. This is where annuities can help ease your worries as you enter retirement. Here at The Lambert Agency, we assist retirees and those nearing retirement age utilize annuities as an exceptionally powerful tool to help protect against outliving retirement savings.

What Is an Annuity?

Essentially, an annuity is a financial product which is offered by insurance companies to provide recipients with a guaranteed stream of income, oftentimes for the duration of their life. Think of annuities as creating your own personal pension plan. You’ll begin by paying a lump sum or series of payments towards your annuity, then the annuity pays you a predictable income over the years according to your terms and risk tolerance.

There are multiple types of annuities to choose from, including:

Fixed Annuities – Fixed annuities provide steady, guaranteed interest growth and predictable payments, so you can rest assured you’re going to continue receiving income well into your retirement years.
Indexed Annuities – Indexed annuities are linked to a market index, such as the S&P 500, with the benefit of offering downside protection over time.
Immediate Annuities – Immediate annuities convert your lump sum contributions into income immediately.
Deferred Income Annuities – Deferred income annuities will start your payment schedule at a predetermined future date. This type of annuity is oftentimes used for longevity focused planning.

Here at The Lambert Agency, we walk you through each option and explain the positives and negatives, to help you best determine which annuity fits your overall retirement goals.

How Annuities Help You Avoid Outliving Your Money

Lifetime Income
Annuities offer multiple payout options which typically last as long as you’re alive. This translates to offering you payments, even if you live beyond 100 years of age. The lifetime guarantee of continued payments is certainly one of the best features of annuities.
Protection From Market Volatility
If your primary savings vehicle is a 401(k) or IRA, a poor performing market may greatly affect your anticipated income. When you work with The Lambert Agency, we help determine which annuity is the best choice for guaranteed income which is not subject to the ups and downs and swinging volatility often associated with 401(k)s or IRAs tied to market performance.
Predictable Budgeting
When you know how much money you’re receiving on a regular basis through fixed income streams, it helps make life easier when it comes to budgeting and planning your finances. Everyday expenses and bills such as housing, healthcare, utilities, groceries, etc… are easier to manage without having to worry about not having enough money.
Customizable Options
There are many customizable options you can incorporate into your annuities. Some of these options consist of everything from inflation-adjusted features and joint payouts for couples. Here at The Lambert Agency, we enjoy assisting our clients with designing their perfect annuity for their lifestyle.

Who Should Consider an Annuity?

Properly selected annuities can be a great fit for:

Retirees who don’t have a pension and are seeking out a guaranteed income
Individuals or couples who are worried about fluctuating market risk in their retirement years
Couples who want a lifetime income stream to continue providing for the surviving spouse, ensuring financial security and stability
Anyone who is entering retirement age and values financial peace of mind while not wanting to stress about outliving their savings

Common Concerns About Annuities

“Are annuities expensive?”
Some forms of annuities may carry higher fees than others, yet many modern annuities are quite cost-effective. The Lambert Agency assists you with comparing and contrasting annuities to best determine the annuity which will simultaneously maximize investment value while reducing unnecessary expenses.

“What if I want flexibility with my annuity?”
Specific annuities allow withdrawals, income riders, or lump-sum access, depending on the specific terms and conditions. The best choice you can make is working with a knowledgeable insurance agency such as The Lambert Agency, to best align the right annuity with your lifestyle.

“Do annuities replace my other retirement accounts?”
No, they do not. Annuities are specifically designed to complement your other retirement accounts, such as 401(k)s, IRAs, and various brokerage accounts through the addition of a guaranteed income.

How The Lambert Agency Helps

When you choose to work with The Lambert Agency, you’re going to find we specialize in retirement strategies which balance both income protection and income growth. When it comes down to annuities, we help:

Compare and contrast the top-rated annuity carriers and products
Properly illustrate income scenarios based on your age, health, and overall retirement goals
Fully explain features such as income riders, death benefits, and inflationary protection in easy to understand language
Provide ongoing annuity plan reviews so your annuity is continuously aligned with your retirement plans

Contact The Lambert Agency Today

When it comes to actually entering your retirement years, outliving your savings should not be a worry. With the right annuity product and strategy, you’re able to fully enjoy your retirement knowing you have a guaranteed stream of income for the remainder of your life. When you choose to work with The Lambert Agency, we’ll assist you with the various annuity options, select the right carrier, and truly design a proper solution which provides financial security paired with peace of mind.

Annuity Fees Explained: What You Need to Know Before Buying

September 20, 2025 by lambertagency

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Annuities can be a fantastic way to secure guaranteed income throughout your retirement years. With this being said, there are fees associated with annuities, much like nearly all other financial products on the market. Gaining a better understanding of annuity fees can help you make a more educated decision if you choose to make the decision to invest. Here at The Lambert Agency, we always believe in providing our clients full transparency so you know exactly what you’re receiving, what you’re paying for, and how annuity fees may end up impacting long-term performance.

Why Annuities Have Fees

An annuity is essentially an insurance contract, and the associated fees help to cover the guarantees and benefits the annuity product subsequently provides. An example of this is how fees support a lifetime income rider, death benefit, and account management features. While these associated costs are usually justified in most cases, having a better understanding of the fees and where they’re coming from helps you avoid any and all surprises along the way.

Common Types of Annuity Fees

Below are some of the most common forms of annuity fees:

Mortality & Expense Risk Charges (M&E Fees)
Mortality & Expense Risk Charges, better known as M&E Fees, help cover the insurance guarantees which are built into an annuity product. These fees are commonly charged as a percentage of account value and will often range from 0.5% to 1.5% annually.

Ex.: With a $100,000 annuity, an M&E fee of 1% would equal to a $1,000 per year annual fee
Administrative Fees
Administrative fees are the costs of servicing your annuity. Annuity servicing will often consist of recordkeeping, statement management, and customer support. An administrative fee usually hovers around 0.1% – 0.3% annually.
Investment Management Fees (Variable Annuities)
If you happen to choose a subaccount, such as a mutual fund housed within a variable annuity, you’ll pay fees which are similar to the expense ratios often found in mutual funds. Investment management fees will vary widely, yet they’re often anywhere between 0.5% – 2%.
Rider Fees
Many forms of annuities will offer optional add-ons, referred to as “riders”. These riders may consist of guaranteed lifetime income, enhanced death benefits, and various forms of long-term care features. Rider fees will usually hover around 0.5%-1.5% annually, ultimately depending on the underlying benefit. Here at The Lambert Agency, we always evaluate your overall goals to best determine whether riders are worth the associated costs.
Surrender Charges
Nearly all annuities will require you to keep your money fully invested for a lock-in period over a set amount of time. This is often referred to as the “surrender schedule”. If you choose to withdraw earlier than anticipated, you will likely end up paying the surrender fees. These fees range from 1%-10% and they usually decline over the years you have your funds held in the annuity.
Other Transaction Fees
Some annuity products may charge for such things as wire transfers, overnight mailing of documents, or excessive withdrawals during a set period of time. These fees, while generally negligible, do exist.

Which Annuities Have Higher (or Lower) Fees?

Variable Annuities: This form of annuity will often have the highest level of associated fees due in large part to its investment subaccounts and riders.
Indexed Annuities: This form of annuity will have moderate levels of fees, typically only if you add additional riders. The base product of an indexed annuity will often have no annual fee.
Fixed Annuities: This form of annuity will usually have the lowest fees, but the fees themselves will be baked into the interest rate rather than outright deducted.

When you choose to work with The Lambert Agency, we thoroughly break down the major and minute differences in annuity products, so you’re able to truly understand each and every trade-off, benefit, and fee involved. The bottom line is: more annuity features usually mean higher fees, but with these higher fees there’s more flexibility and guarantees.

How to Decide If the Fees Are Worth It

Compare Benefits vs. Cost
If your lifetime income rider ends up costing 1% annually, yet it guarantees an annual income of $30,000 for the entirety of your remaining years, it could be very well worth it.
Evaluate Your Goals
Whenever choosing an annuity product, you’ll always want to fully evaluate your goals. Are you seeking out pure income? Do you want market participation? Are you anticipating a wealth transfer? The correct annuity product will avoid paying for features you don’t need, thereby helping you avoid fees you don’t need to pay.
Work With a Transparent Advisor
When you choose to work with The Lambert Agency, we always fully illustrate your annuity options with and without riders, so you’re able to see the true impact on fees and income, in a detailed side-by-side comparison.

FAQs About Annuity Fees

Do all annuities have fees?
No, not all annuities have fees. Some fixed annuities have no explicitly stated annual fees, yet the costs are built into the credited interest rate of the annuity product.

Can annuity fees reduce my account value?
Yes, variable annuities typically experience this reduction in account value the most out of all annuity products. For this reason, it’s very important to balance growth potential against any offsets driven by fees.

How can I minimize fees?
Sometimes, the simpler annuity structure may be just what you need to align with your retirement goals, all at a lower annual cost.

Contact The Lambert Agency Today

Annuities can be a very powerful retirement tool, when you actually know what you’re paying for. Through properly breaking down annuity fees and comparing your various options, you’re able to ensure your money is working for you without the unnecessary, excessive costs. When you choose to work with The Lambert Agency, you’re choosing to work with an agency who believes in transparency and client education first and foremost. We will happily walk you through any and all fees, benefits, and features of your annuity product so you can feel truly confident prior to making a final decision on your preferred annuity.

Life Insurance for Business Owners

September 15, 2025 by lambertagency

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By The Lambert Agency | Austin, Texas

When you’re a business owner, you wear a lot of different hats. You’re a leader, a visionary, a problem solver, and a risk taker. You work so hard to build something that will stand the test of time. Have you ever stopped to ponder what would happen to your business if something happened to you?

This is where life insurance for business owners comes in to help. At The Lambert Agency, we help entrepreneurs just like you protect their Austin, Texas businesses with life insurance for business owners; so you can rest assured that if anything were to happen to you, the business legacy you’ve established can carry on successfully.

Here’s how the right life insurance policy can properly safeguard your business, and why a life insurance policy for business owners is a critical element of any well thought out business plan.

💡 Why Business Owners Need Life Insurance

Life insurance is not just a personal financial tool, it’s a valuable, strategic business asset when implemented correctly. If you were to pass away unexpectedly, your life insurance policy could help with the following:

Keeping your business running without having to worry about financial disruptions
Protecting your family’s income and ownership interests, so the business can continue onwards
Funding a smooth ownership transition for partners or heirs, reducing or outright eliminating gaps in leadership
Reassuring lenders, investors, and employees that your company will remain stable during your untimely passing

Life insurance helps ensure the business you’ve worked so hard to build up does not collapse under the weight of uncertainty.

🏦 Key Uses of Life Insurance for Business Owners

Business Continuity & Key Person Protection

Each and every successful business always has people who are truly essential to the daily operations. Oftentimes, the owner or a top executive is that person. If this essential person passes away, the company may end up facing some serious financial setbacks. A key person life insurance policy will assist in replacing lost income, covering recruiting costs, and maintaining operations as the business regains composure and reestablishes itself. The business owns the life insurance policy itself, pays the premiums, and is listed as the beneficiary. All of this ensures the funds are available exactly when they’re most needed.

Buy-Sell Agreement Funding

If your business has partners or co-owners, a buy-sell agreement is an absolute must. Life insurance is how the buy-sell agreement is often funded.

Here’s how the buy-sell agreement works:

The agreement successfully outlines what happens to each partner’s ownership share if one of them passes away
Life insurance provides the funds needed for the surviving partner(s) to buy out the deceased owner’s share, both fairly and efficiently

This process of the buy-sell agreement prevents any internal disputes and ensures the family of the deceased owner is compensated, and keeps the business in capable hands.

Loan & Investor Protection

Many financial institutions and investors will require active life insurance policies as part of authorizing business financing agreements. A collateral assignment policy can be used to secure a business loan, providing lenders the confidence repayment will not be interrupted in the event of an owner’s death. For many investors, life insurance can provide reassurance their financial stake in your company remains fully protected.

Family & Estate Planning

For many entrepreneurs, the business is their family’s main asset. Life insurance can:

Replace the deceased owner’s personal income
Cover any estate taxes
Ensure loved ones aren’t forced to sell the business to pay off lingering debts
Provide financial stability as heirs or successors decide what the company’s next steps will be

A properly structured policy is able to keep your legacy intact, both at home and within your business.

🧾 Types of Life Insurance to Consider

Type	Best For	Key Benefits
Term Life Insurance	Short-term obligations like loans or partnerships	Affordable, simple, and flexible
Whole Life Insurance	Long-term protection and cash value growth	Lifelong coverage and asset-building potential
Universal Life Insurance	Owners seeking flexibility in premiums and benefits	Adjustable coverage that can grow with your business
Key Person Life Insurance	Protecting essential team members	Provides immediate liquidity for operational stability

An experienced insurance agent can help you determine which type, or combination, best fits your business structure, goals, and overall budget.

⚙️ How Much Coverage Do You Need?

The ideal coverage amount depends on multiple factors such as:

Your company’s annual revenue and debt obligations
The value of your ownership stake
The number of employees who depend on you
Existing personal and business assets

Here at The Lambert Agency, we always take the time to thoroughly analyze your business and financial structure to best determine how much protection is actually enough, without having to overpay for coverage you simply do not need.

📈 Tax Benefits of Business-Owned Life Insurance

In some cases, the life insurance premiums for a key person or buy-sell agreements may be fully deductible as business expenses, ultimately depending on how the business is structured. Proceeds from the policy are typically received by the beneficiary tax-free. The Lambert Agency always recommends consulting with a tax professional to best ensure your plan is structured for the maximum benefit and compliance.

🌟 The Lambert Agency Difference

We definitely understand that business owners do not have the time for cookie-cutter insurance solutions. For this reason, we always:

Compare policies from multiple top-rated carriers
Customize coverage options for your business structure and goals
Fully integrate your life insurance into your broader succession plan

At The Lambert Agency, our mission is simple: protect your business, your family, and your future, all in one comprehensive strategy.

Protect Your Business Legacy with The Lambert Agency

You’ve committed so many hours, days, and years to leave your business unprotected should you pass away unexpectedly. Whether you’re a solo entrepreneur or part of a rapidly growing partnership, The Lambert Agency is able to help you find the right level of life insurance for business owners. Feel free to contact us using the form below and we’ll be sure to respond to your message as soon as possible. We look forward to hearing from you soon.

The Top 5 Medicare Supplement Plans for 2025

September 12, 2025 by lambertagency

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The original form of Medicare is certainly excellent, yet it has its forms of coverage gaps, including deductibles, copays, and coinsurance. This is where Medicare Supplement plans (such as Medigap plans) come in to save the day. Medigap plans help you avoid any and all surprises with out-of-pocket costs and offer an improved peace of mind knowing you’re covered.

Here at The Lambert Agency, we assist in helping our valued clients compare options and choose the best plans for their specific healthcare needs and overall budgets. Let’s explore the top five Medicare Supplement plans for 2025 and what makes each of them stand out as top contenders

1. AARP/UnitedHealthcare: Best Choice as an Overall Provider

This Medicare Supplement plan has been rated best overall by NerdWallet. AARP/UnitedHealthcare offers a wide range of Medigap plans, from A through N, with generally low levels of customer complaints paired with a competent customer service team. These plans are widely available and will often include wellness extras such as dedicated fitness programs.

Why AARP/UnitedHealthcare stands out:

Fully comprehensive coverage options
Overall excellent customer satisfaction
Nationwide availability within all 50 states

2. Mutual of Omaha: Best Choice for Premium Discounts

Mutual of Omaha is known for their competitive pricing and generous member perks. Additionally, Mutual of Omaha is often recognized for offering premium discounts and an overall great value for what you pay for.

Why Mutual of Omaha stands out:

Frequent discounts (e.g., for households, auto-pay, etc…)
Very strong reputation for manageable pricing

3. State Farm: Best Choice for Member Satisfaction

State Farm offers quality customer service and care. If this matters to you first and foremost, State Farm has ranked highest for overall member satisfaction in 2025 and is likely the ideal choice for your Medigap coverage needs. State Farm’s plans cover popular choices such as A, C, F, G, and N, providing you with the right level of flexibility and customer care to live your best life yet this year.

Why State Farm stands out:

Personalized, local support
Strong customer satisfaction ratings

4. Anthem: Best Choice for Extra Benefits

Anthem truly stands out in 2025 for adding a bevy of extra benefits to their Medigap plans, including various wellness programs and a variety of online healthcare services. This is especially true with their Plan G and Plan N options.

Why it stands out:

Additional perks such as telehealth, fitness, and discounted services
Enhanced value beyond their typical coverage levels

5. Wellabe: Best Choice for Lowest Premiums

If finding the most affordable costs is your primary focus, Wellabe generally offers Medigap policies with very low premiums, while still maintaining solid coverage for 2025.

Why Wellabe stands out:

Affordable pricing
Options for budget-conscious beneficiaries

Understanding the Most Popular Medigap Plans

While insurers may vary, the most commonly chosen Medigap plans for 2025 remain Plan F (where available), Plan G, and Plan N.

Plan F: Offers full coverage, including the Part B deductible, yet only available if you’re eligible before 2020
Plan G: Best alternative for new enrollees post-2020, and it covers nearly everything aside from the Part B deductible
Plan N: Offers lower premiums with modest copays for doctor and ER visits, typically around $20 and $50 respectively

How to Choose the Right Plan with The Lambert Agency

When selecting a Medicare Supplement plan, you’ll want to consider the following:

Your overall healthcare needs & budget mapped out
Specific plan availability in your surrounding area
General provider satisfaction ratings & customer service record
How many optional wellness perks or premium discounts they offer

Here at The Lambert Agency, we’re able to help you navigate these various factors, compare and contrast various quotes from the top insurers mentioned in this post, and help you enroll during the optimal enrollment window which is typically your six-month Medigap open enrollment period, where underwriting cannot be denied based on health.

To Summarize…

For year 2025, based on overall value, support, and affordability, the top Medicare Supplement providers include the following:

AARP / UnitedHealthcare: Best overall plan to choose
Mutual of Omaha: Best premium discounts offered
State Farm: Best for overall customer service
Anthem: Best extra benefits available
Wellabe: Best for low-cost, budget-minded individuals

Among these specific plan types, Plan G and Plan N are the most widely and highly recommended choices, especially for those who became Medicare-eligible after 2020

Need Help Finding the Best Medigap Plan?

When you choose to work with The Lambert Agency, you’re choosing an agency to be your guide when searching for the best Medigap plans available in 2025. We’ll help you truly understand the various options presented, gather personalized quotes catered to your specific wants and needs, and ensure your Medigap plan aligns with your overall coverage goals and underlying budget. We look forward to working with you soon!

Medicare Advantage vs. Medicare Supplement: Which Should You Choose?

September 5, 2025 by lambertagency

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Medicare Advantage vs. Medicare Supplement: Which Should You Choose?

When you turn 65 years of age, you automatically become eligible for Medicare. One of the most important decisions you’ll have to make when turning 65 and becoming automatically eligible for Medicare is whether you should choose a Medicare Advantage plan or a Medicare Supplement (Medigap) plan. Both of these options are geared towards helping you properly cover the costs your original Medicare plan does not cover. However, they operate in different ways. Here at The Lambert Agency, we help our valued clients compare and contrast both options available to them when they turn 65 years of age. This guidance helps ensure the right choice is made when it comes to aligning with health needs, lifestyle needs, and overall budget constraints.

Understanding the Basics

Medicare Advantage (Part C)

Medicare Advantage plans will be offered by private insurance companies which are approved by Medicare. Medicare Advantage plans combine Parts A (hospital coverage) and B (medical coverage). Additionally, they’ll often include Part D (prescription drug coverage). Some Medicare Advantage plans will offer additional extras consisting of vision, dental, and hearing coverage options. Medicare Advantage plans include the following attributes for most individuals:

Lowered monthly premiums
Network restrictions (HMO/PPO) could limit which doctors and hospitals you can visit and be seen at
Out-of-pocket costs such as copays and coinsurance will still apply
Often includes extra perks with the plan such as fitness programs or telehealth options

Medicare Supplement (Medigap)

Medigap plans will often work alongside your original Medicare plan. Choosing to keep Medicare Parts A and B, while also adding a Medicare supplement plan will assist in paying for deductibles, copays, and coinsurance expenses. Medicare Supplement plans will often include the following:

Increased monthly premiums, yet reduced out-of-pocket costs
No network restrictions applied (see any doctor or hospital you see fit which accepts Medicare nationwide)
Prescription drugs are not included (a separate Part D plan is required)
Consistent, predictable healthcare costs with less of an overall financial risk

Key Differences Between Medicare Advantage & Medicare Supplement Plans

Costs
- Advantage: Lower premiums, yet higher potential out-of-pocket costs
- Supplement: Higher premiums, yet most costs will be covered
Doctor & Hospital Choice
- Advantage: Must use the plan’s network, except in cases of emergency
- Supplement: Any Medicare-accepting provider in the U.S. qualifies
Coverage Extras
- Advantage: May include associated dental, vision, hearing, and wellness perks
- Supplement: Strictly covers medical costs; extras are not included
Travel Coverage
- Advantage: Limited coverage, with often no available coverage outside of your specific service area
- Supplement: Nationwide coverage, with some plans covering foreign travel emergencies
Simplicity vs. Flexibility
- Advantage: An all-in-one plan which is easier to manage, yet still has its limitations
- Supplement: Can be more flexible, yet requires pairing with Part D and possibly dental/vision coverage

Which Should You Choose?

Ultimately, the right choice comes down to your overall health, anticipated budget, and preferred lifestyle. Here at The Lambert Agency, we will always recommend asking yourself the following questions to help determine the right choice:

“Do you want to lower your premiums now, knowing you’ll have to eventually pay copays and coinsurance along the way?”: Medicare Advantage could be a good fit for you
“Do you prefer a form of predictable, comprehensive coverage with the freedom to see any doctor you’d like?”: Medicare Supplement may be the better choice
“Do you travel often or split time between residences in different states?”: Medigap does in fact offer nationwide flexibility
“Do you like the idea of extras like vision, dental, and gym memberships included?”: Medicare Advantage is able to provide those perks

FAQs

“Am I able to switch between Medicare Advantage and Medicare Supplement?”
Yes, you can, but it’s not always the easiest task. Medicare Advantage plans may be changed during the annual enrollment period, but you’ll want to consider that switching to a Medicare Supplement plan may require additional medical underwriting, unless you happen to be within the initial enrollment window.

“Which option costs more over time?”
It ultimately depends on a couple of factors. Do you have frequent medical care needs? If so, a Medicare Supplement plan may end up saving you money over the long-term. If you’re a healthy individual and would like lower premiums, Medicare Advantage can be the right choice for you.

“Does The Lambert Agency help me compare both?”
Yes, we do! Here at The Lambert Agency, we’re happy to run side-by-side comparison models of premiums, estimated out-of-pocket costs, and levels of coverage so you can fully grasp what the outcomes may look like.

Contact The Lambert Agency Today

In summary, there’s not a one-size-fits-all approach when answering the question of Medicare Advantage vs. Medicare Supplement coverage. It boils down to your underlying health, your anticipated budget, and your preferred lifestyle. When you choose to work with The Lambert Agency, you’ll know we take the time to truly understand your unique situation and goals, and we’ll do our absolute best to provide you with the best options we see fit. Through these careful measures, we’re able to help you feel confident you’ve chosen the right Medicare coverage which aligns with your lifestyle.

Life Insurance for Mortgage: Protecting Your Home & Family

September 3, 2025 by lambertagency

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By The Lambert Agency | Austin, Texas

For many families, a mortgage is likely the largest financial obligation they’ll take on throughout their lives. While home ownership can be a major milestone, it also will come with a big “what if?” question:

What would happen to my family — and our home — if I passed away unexpectedly?

This is where life insurance for your mortgage can come in to help. Here at The Lambert Agency, we help Austin, Texas homeowners protect what actually matters most through ensuring their loved ones have the ability to continue to reside in their home, no matter what the future may bring.

🏠 What Is Mortgage Life Insurance?

Mortgage life insurance, alternatively referred to as “mortgage protection insurance”, is designed to pay off your mortgage should something happen and you pass away within the term of the policy. Unlike traditional forms of life insurance which will provide a flexible cash benefit your family can choose how to use, mortgage life insurance is specifically tied to your underlying mortgage balance. This means your mortgage life insurance policy benefit decreases as your mortgage is paid down over time.

💡 How It Works

Here’s a simple example of how this mortgage life insurance process works:

Let’s assume you have a $350,000 mortgage on a 30-year loan. You choose to purchase a mortgage life insurance policy for the same amount and term of the mortgage itself.

If you were to pass away 10 years into your mortgage loan, your insurer would pay the remaining mortgage balance directly to the lender, which will ensure your family is able to keep the home without having to worry about the “what if?” factor.
If you outlive the policy term, it expires just as your mortgage would once it’s paid down.

This specific form of life insurance coverage provides you and your family peace of mind, knowing they won’t face foreclosure or financial stress during an already difficult time should you pass away unexpectedly.

⚖️ Mortgage Life Insurance vs. Traditional Life Insurance

Feature	Mortgage Life Insurance	Traditional Life Insurance
Payout Recipient	Lender	Beneficiaries (your choice)
Coverage Amount	Declines as mortgage balance decreases	Stays level throughout the term
Flexibility	Pays only the mortgage	Can cover any expense (mortgage, debts, living costs, etc.)
Cost	Usually affordable, but limited benefit	Often more versatile and long-term value
Best For	Homeowners focused solely on mortgage protection	Families needing broader financial protection

Here at The Lambert Agency, we will often recommend exploring term life insurance as an alternative, as it’s typically much more flexible and cost-effective while still covering your mortgage obligations should the need arise.

💰 Using Term Life Insurance to Cover Your Mortgage

A term life insurance policy allows you to specify the exact amount and length of coverage which aligns with your mortgage. Here’s an example of how this would work:

If you have a $400,000, 30-year mortgage, you would purchase a 30-year term policy with a $400,000 death benefit. If you pass away during the specified period, your beneficiaries will receive the full benefit directly, and they can decide how to best use it:

Pay off the mortgage entirely
Cover monthly bills and living expenses
Fund college tuition or other priorities

Term life insurance is a much more flexible and family-centered approach to mortgage protection insurance.

🧾 Why Life Insurance for Your Mortgage Matters

Without the right level of coverage, your family could face the following issues:

Difficulty making mortgage payments without your income
Risk of losing the home through foreclosure
The emotional and financial stress of having to sell the home quickly

When you choose to have a properly structured life insurance policy with the help of The Lambert Agency, it helps to remove those worries, ensuring your loved ones can continue to reside in the home you worked so hard for.

📈 How Much Coverage Do You Need?

A proper rule of thumb is to match up your life insurance coverage amount and term to your actual mortgage:

Coverage amount: Equal to your current mortgage balance
Term length: Equal to (or slightly longer than) your mortgage term

If you happen to have other financial obligations, such as car loans, college savings needs, or credit card debt to service, you may want to think about increasing your coverage for full protection.

🌟 The Lambert Agency Advantage

Here at The Lambert Agency, we simplify the process to find the right policy for your home and family. We’ll help you with:

Comparing term life vs. mortgage-specific options
Choosing coverage that fits your mortgage term and budget
Ensuring your family is fully protected, no matter what happens

Choosing to protect your home is not just about bricks and mortar, it’s about protecting the people inside of it; your family.

Protect Your Home & Family Today

When it comes down to it, your home is more than just an address, it’s your family’s core foundation. Allow The Lambert Agency to help you determine the right life insurance policy and level of coverage to help keep your home secure for many years to come. Feel free to contact us using the form below and we’ll be sure to help you in any way we can. We look forward to hearing from you soon.

Life Insurance for Diabetics: What You Need to Know

September 1, 2025 by lambertagency

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By The Lambert Agency | Austin, Texas

If you happen to be living with diabetes, you are already well aware of the importance of taking care of your health, but what about when it comes to your family’s financial health and wellbeing? Many individuals with diabetes assume obtaining a life insurance policy will be too difficult or too expensive. The good news? It’s absolutely possible to obtain life insurance coverage as a diabetic, and the rate may be more affordable than you previously anticipated.

Here at The Lambert Agency, we’re happy to specialize in helping individuals across Austin, Texas find the right life insurance solutions, no matter what their health history may entail. Here is what every diabetic should be aware of when it comes to securing life insurance coverage and protecting their loved ones’ financial wellbeing.

💡 Can Diabetics Qualify for Life Insurance?

Yes, a diabetic individual can certainly qualify for life insurance in many scenarios. Life insurance companies will examine the diabetic individual’s eligibility and premiums by looking at the type of diabetes, the overall health of the diabetic individual, and how well the diabetic individual manages their health. While having diabetes increases premium costs with a life insurance policy and the overall availability of coverage, it’s not an automatic disqualification; especially if the diabetic individual is taking the right level of proactive steps to best manage their condition.

🩸 How Insurers Evaluate Applicants with Diabetes

When applying for life insurance coverage, insurers will typically review the following:

Type of diabetes (Type 1, Type 2, or gestational)
Age at diagnosis
Current age and overall health
A1C levels and blood sugar control
Medications and treatment routine
Lifestyle factors (diet, exercise, tobacco use, etc.)
Any diabetes-related complications

The more one has their diabetes under control, the more favorable the life insurance premium rates will be. Many insurers will utilize modernized underwriting techniques which treat properly managed diabetes with a greater level of leniency than in past decades.

🏥 Types of Life Insurance Available for Diabetics

Term Life Insurance

A term life insurance policy for diabetics is coverage which is set for a fixed period of time, typically in intervals of 10 years, 20 years, or 30 years. Term life insurance for diabetics is generally the most affordable option available and it’s also ideal if you want to protect your family’s financial wellbeing while simultaneously paying off a mortgage, raising your children, or building up your savings. Many diabetics will qualify for a standard or near-standard premium rate, especially if they’re properly managing their diabetes condition.

Whole Life Insurance

Whole life insurance policies for diabetics are able to provide lifetime coverage and do include a cash value component which does grow over time. The monthly premiums are more expensive than term life insurance policies, yet they will remain fixed, and the coverage never expires as the payments are made on a timely basis.

Guaranteed Issue Life Insurance

If your diabetes is more severe than most cases, or it has led to health complications, guaranteed issue policies may be the best choice. A guaranteed issue policy will not require a medical exam, nor will it require a health questionnaire, allowing approval to be nearly automatic in some cases. Guaranteed issue life insurance policies will typically have a much smaller coverage amount, ranging anywhere from $5,000 – $25,000, and they will often be used for final expenses or funeral costs.

Simplified Issue Life Insurance

A simplified life insurance policy is a type of policy which does not require a medical exam, but it does include a short health questionnaire. It can be a good middle ground option between guaranteed and fully underwritten policies. It typically has a faster approval process and moderately priced premiums.

⚖️ How Much Does Life Insurance Cost for Diabetics?

Life insurance premiums for diabetics vary based on specific health profiles, but the key factors are:

Type of diabetes (Type 2 generally gets better rates than Type 1)
A1C levels (ideally below 7.0 for best pricing)
Body mass index (BMI)
Blood pressure and cholesterol levels
Overall health management

An example of this could be a 40-year-old with well-managed Type II diabetes who only pays slightly more than the average healthy individual of the same age. The difference can be minimal if the diabetes condition is stable and controlled.

🧭 Tips for Getting the Best Life Insurance Rates as a Diabetic

To improve your chances of qualifying for life insurance as a diabetic, and to save money, follow these steps:

•Work with an independent agency (such as The Lambert Agency) who has the ability to shop around multiple carriers for the best diabetic-friendly options

•Try your best to keep your medical records up to date, as underwriters appreciate documentation of consistent management

•Stay consistently active and maintain a healthy weight if possible

•Avoid tobacco products, as smoking can significantly increase premiums for diabetics; or outright disqualify you with certain insurers

•Consider reapplying for life insurance if your A1C improves or you lose weight, as better control of your diabetes condition often means better rates

🌟 Why Work with The Lambert Agency

Here at The Lambert Agency, we truly understand that every client’s situation is unique, as is every diabetes diagnosis. We’ve chosen to partner with multiple top-rated life insurance carriers that specialize in diabetic underwriting, assisting you in:

Finding affordable coverage without unnecessary medical hurdles
Comparing quotes across several insurers
Understanding exactly what’s covered, and what’s not covered in easy to understand language; no excess jargon

Our goal at The Lambert Agency is simple: we make it easier for you to protect your loved ones, your home, and your legacy; even if you have a diabetes condition.

Having diabetes does not mean you’re automatically disqualified from obtaining a life insurance policy, it simply means you need the right guidance to find the best policy for your unique scenario. When proper planning is implemented with the help of an experienced independent agent, you’ll be able to find the best policy which aligns with your health, goals, and budget.

Get a Free Life Insurance Quote in Austin, TX

Whether you’re a Type 1 diabetic, Type 2 diabetic, or you have gestational diabetes, here at The Lambert Agency, we’re going to help you find the right coverage you need, at the right price. Feel free to contact us using the form below. We look forward to hearing from you soon.

What Is a Medicare Supplement Plan and How Does It Work?

August 30, 2025 by lambertagency

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If you’re approaching age 65, or you already happen to be on Medicare, you may have heard of the term “Medicare Supplement Plan”, a.k.a. “Medigap”. These specific plans assist in covering out-of-pocket costs which original Medicare (Parts A & B) does not cover. The question is: how do Medicare Supplement Plans work, and are they the correct choice for your needs? Here at The Lambert Agency, we specialize in breaking down Medicare coverage in simple, easy to understand terms. In this guide, we’ll go over all of the essential elements of Medicare Supplement Plans and provide our guidance every step of the way. Enjoy!

Addressing the Gaps in Original Medicare

Original Medicare is certainly a strong foundation for accessible healthcare during retirement years, yet it may leave you responsible for the following deductibles:

Part A hospital deductibles
Part B annual deductibles
Copayments for any and all doctor visits and hospital stays
Coinsurance (which is your share of the costs for covered services)
No out-of-pocket maximum

Simply put, this means a single illness or extended hospital stay could possibly lead to significant out-of-pocket expenses. Thankfully, this is where a Medicare Supplement Plan comes in to help.

What Is a Medicare Supplement (Medigap) Plan?

A Medicare Supplement Plan is simply a form of private insurance thoughtfully designed to “fill in the gaps” Original Medicare leaves behind. Through working alongside Parts A and B, some or all of the costs which Medicare does not cover are covered. When you choose to enroll in a Medigap plan from The Lambert Agency, you’ll be able to enjoy the following benefits:

Predictable Costs: Many forms of copays, coinsurance, and deductibles will be covered
Freedom of Choice: You’re able to see any doctor or hospital nationwide which accepts Medicare
No Network Restrictions: Unlike Medicare Advantage plans, you are not tied to HMO or PPO network restrictions
Guaranteed Renewable Coverage: As long as you successfully pay your monthly or annual premium, your plan cannot be cancelled

How Does a Medicare Supplement Plan Work?

Let’s break down a simple example of how a Medicare Supplement Plan works:

•You visit your doctor: Medicare Part B is able to pay 80% of the approved cost

•Without Medigap: You’d likely pay the remaining 20% out-of-pocket

•With a Medicare Supplement Plan: Your insurer (through us at The Lambert Agency) pays said 20% on your behalf.

All of this yields fewer surprises and even more predictable healthcare spending over time, helping you better manage your finances throughout the year

Popular Medicare Supplement Plans

While Medicare Supplement plans may vary, some of the most popular options for new Medicare Supplement Plan enrollees today consist of the following:

Plan G: This is the most comprehensive plan available for those eligible after 2020 (it covers nearly everything except the Part B deductible)
Plan N: Offers lower premiums in exchange for modest copays at your physician’s office or emergency room
Plan F: This plan is only available if you were eligible for Medicare prior to January 1, 2020, yet it remains one of the most comprehensive plans overall

When you work with The Lambert Agency, we assist you in comparing these options side-by-side and help you decide which one is ultimately best for your overall budget and healthcare needs.

When Can You Enroll in a Medigap Plan?

Your Medigap Open Enrollment Period is the best time to sign up for a Medigap Plan. To enroll within this six-month window, you must be:

65+ years of age
Enrolled in Medicare Part B

During this timeframe, you can purchase any and all Medicare Supplement plans with guaranteed acceptance (i.e.: meaning no medical underwriting or health questions). Once you’re outside of this window of time, you may end up facing restrictions or even higher than average premiums. For these reasons, it’s important to work with an agency such as The Lambert Agency to ensure everything is timed correctly and on the right track.

FAQs About Medicare Supplement Plans

Do Medigap plans include prescription drug coverage?
No. You’ll require a separate Part D plan for medications.

Are premiums the same everywhere?
No. Premiums may vary by carrier, location, and age. When you choose to work with The Lambert Agency, we’re able to shop around multiple carriers to locate the best rates for you and your unique scenario.

Can I use my Medigap plan outside the U.S.?
Some plans, such as Plan G and Plan N, include limited foreign travel emergency coverage.

Contact The Lambert Agency Today

A Medicare Supplement Plan is a very powerful way to protect yourself from any unexpected medical bills and gain an enhanced peace of mind during your retirement years. When you have predictable costs paired with nationwide provider freedom, it’s one of the best choices you can make as a 65+ senior citizen. When you contact The Lambert Agency, we go the extra mile to help you compare various options, enroll during the right window of time, and ensure your plan best fits your long-term healthcare needs. Feel free to contact us using the form below and we’ll be happy to help you every step of the way. We look forward to working with you soon!