Blog

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

Request Quote Schedule Call Call Now

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

Request Quote Schedule Call Call Now

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

Request Quote Schedule Call Call Now

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!

Life Insurance for 30-Year-Olds: Why Now Is the Smartest Time to Buy

September 8, 2025 by lambertagency

Request Quote Schedule Call Call Now

By The Lambert Agency | Austin, Texas

When you turn 30 years old, it can mark a big shift in your lifestyle, as you’re most likely building your career, purchasing a home, or starting a family. Turning 30 years old is also one of the best times in your life to purchase life insurance coverage. Here at The Lambert Agency, we help young professionals across the greater Austin, Texas area protect their families and their financial future with properly planned, affordable forms of life insurance coverage. Here’s why purchasing life insurance in your 30s is typically one of the best financial decisions to make.

💡 Why Life Insurance Matters at 30

Life insurance is not just for people with children or huge mortgages, it’s for anyone who would like to ensure their loved ones are financially secure if something unexpected happens. At 30 years old, you may be:

Married or in a long-term relationship
Paying off student loans or a mortgage
Starting a family or planning to soon
Building a business or side hustle
Earning more than you were in your 20s, and wanting to protect what you’ve built

Life insurance helps to ensure that if you were to pass away unexpectedly, your loved ones could comfortably afford to pay off the mortgage, wipe out any and all debts, and maintain their lifestyle without added financial stress.

🏦 The Big Advantage: Low Cost

In your 30s, life insurance premiums are at some of the lowest they’ll be. As you begin to age, the cost of life insurance premiums will typically increase. For example, a healthy 30-year-old could receive the following form of life insurance coverage:

$500,000 of term life coverage for as little as $20–$30 per month

Choosing to buy life insurance in your 30s will now lock in these low rates for decades, even as you age or your health changes.

⚖️ Term vs. Whole Life Insurance for 30-Year-Olds

Feature	Term Life Insurance	Whole Life Insurance
Coverage Duration	10–30 years	Lifetime
Cost	Lower premiums	Higher premiums
Builds Cash Value?	No	Yes
Best For	Income replacement, family protection	Long-term wealth building, legacy planning

Term life insurance coverage is usually the right choice for 30-year-olds. It’s very affordable in most cases, simplified, and it provides high coverage levels during the years your financial responsibilities are greatest.

Whole life insurance is the ideal choice if you would like permanent coverage which also doubles as a long-term financial asset.

🧾 How Much Life Insurance Do You Need at 30?

The most common rule of thumb to properly determine just how much life insurance you need at 30 years of age is around 10-12 times your annual income. An example of this is, if you earn $75,000 per year, you should try to secure around $750,000 – $900,000 in life insurance coverage. You should also be sure to factor in the following:

Any outstanding debts (student loans, credit cards, car loans, mortgage, etc…)
Preparing for future family needs (childcare, college tuition, healthcare, etc…)
Evaluating any ongoing living expenses for your spouse or dependents
Keeping track of any business or personal loans you’ve co-signed to determine how much would be needed to pay off said business or personal loans

Here at The Lambert Agency, we can assist you in calculating the right amount of life insurance coverage for your unique situation and budget, all without having to overpay.

🩺 What If You Have Health Conditions?

Even if you do have health conditions at the age of 30 (high blood pressure, asthma, diabetes, etc…), applying at the younger age of 30 improves your chances of receiving a better rate. Many insurers will offer a “preferred” or “standard-plus” rate for properly managed conditions paired with a healthy lifestyle.

🧭 Life Insurance Options for 30-Year-Olds

Term Life Insurance: Best for affordable coverage options and larger coverage amounts
Whole Life Insurance: Great for lifelong coverage and cash value growth, which can be borrowed against in the future if necessary
Universal Life Insurance: Offers flexible premiums and investment options
Employer-Sponsored Coverage: A good start, but usually not enough on its own, as it’s typically a much smaller amount of coverage than a standard term life insurance policy

You can also combine term and whole life policies for a balanced, customized approach, something we often recommend to young couples or new homeowners.

🌟 The Benefits of Buying at 30

Lower premiums: Lock in your best possible rate for the specified period of time (usually 30 years of coverage)
More options: Choose from a wider variety of top-rated carriers and various policy types
Easier approval: Your health and age are truly on your side, resulting in a much easier approval process combined with preferred coverage limits
Future flexibility: You can always choose to add or adjust coverage later on if needed

The earlier you choose to start with life insurance coverage, the more you’ll end up saving over the lifetime of your life insurance policy, and the stronger your protection will be.

💬 Don’t Rely on Employer Life Insurance Alone

Many 30-year-olds will choose to rely solely on their employer-sponsored, group life insurance plan. While this is certainly a generous benefit on behalf of your employer, it’s typically only 1-2 times your annual salary. On top of that, you’ll lose coverage should you decide to change jobs. A personal life insurance policy stays with you for the duration of the policy’s terms, no matter where you choose to work.

🌆 The Lambert Agency Advantage

Here at The Lambert Agency, we choose to work with multiple top-rated life insurance carriers to help you find the best coverage for your specific needs and budget.

We make it easy to:

Compare quotes from several top-rated providers
Easily choose between term and whole life options
Be approved quickly, often with no medical exam required

Our mission is to help you adequately protect your family and future with confidence, at an affordable price to best fit your lifestyle.

Get a Free Life Insurance Quote in Austin, TX

Your 30s are the perfect time to fine-tune your financial future and plan ahead accordingly. Allow The Lambert Agency to help you find the best life insurance policy that grows with you, all at an affordable rate. Your loved ones will be financially protected, no matter what the future may hold. Feel free to contact us using the form below. We’ll be sure to respond to your message as soon as possible. We look forward to hearing from you soon!

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

September 5, 2025 by lambertagency

Request Quote Schedule Call Call Now

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

Request Quote Schedule Call Call Now

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 New Parents: Protecting Your Growing Family

September 2, 2025 by lambertagency

Request Quote Schedule Call Call Now

By The Lambert Agency | Austin, Texas

When you become a parent, it truly changes everything. Your priorities, perspective, and your sense of responsibility all shift. You suddenly have a human life you’ve created depending on you for everything. Becoming a new parent involves a lot of changing of diapers, sleepless nights, and new routines. There’s one thing which should always be high on every new parent’s to-do list: life insurance. Here at The Lambert Agency, we help Austin, Texas area parents protect what truly matters most, their families, through finding the best life insurance coverage at the best price available to provide true peace of mind for many years to come.

💡 Why New Parents Need Life Insurance

Life insurance is more than just about money, it’s about security and stability for your family’s future. If something were to unexpectedly happen to yourself or your partner, life insurance is there to ensure your loved ones could do the following without having to worry about financial burdens:

Cover day-to-day living expenses
Pay the mortgage or rent
Fund childcare or education costs
Pay off debts or medical bills
Maintain the lifestyle you’ve worked hard to build

Life insurance is one of the most meaningful ways to protect your family’s and child’s future, no matter what life may throw at you.

👨‍👩‍👧 Both Parents Need Coverage — Even the Stay-at-Home Parent

Many families make the mistake of assuming only one parent needs life insurance, and they typically choose to cover the higher earner out of the two parents. It’s important to note that both parents play an equally important role in raising the child and a stay-at-home parent can end up contributing the equivalent of thousands of dollars’ of labor if they were to enroll with the help of a professional caretaker for the child. When you have life insurance for both parents, it ensures the surviving spouse has the right level of financial means to keep life as stable as possible for your child during an extremely difficult time.

🏦 How Much Coverage Do New Parents Need?

A good starting point when determining how much coverage is needed as new parents is around 10-12 times your annual income, yet every family’s needs are certainly different. When calculating out coverage, choose to consider the following:

Your mortgage or rent
Childcare costs (which can very easily exceed $10,000/year in Texas)
Future education expenses
Outstanding debts (credit cards, car loans, student loans)
Income replacement for at least 10–15 years

Here at The Lambert Agency, we help new parents custom tailor their life insurance policy amounts to fit both the current lifestyle and long-term family goals, all without having to overpay for any unnecessary coverage.

⚖️ Term vs. Whole Life Insurance for New Parents

Feature	Term Life Insurance	Whole Life Insurance
Coverage Length	10–30 years	Lifetime
Cost	Lower premiums	Higher premiums
Cash Value	No	Yes (builds over time)
Best For	Young families and mortgages	Long-term planning and legacy building

Term life insurance is by far the most popular choice for new parents, as it’s very straightforward, affordable, and will provide a high level of coverage relative to the underlying premium rates.

Whole life insurance coverage is able to offer lifelong coverage and build up cash value, which is ideal if you want a policy which doubles as a long-term savings tools.

🩺 Do You Need a Medical Exam for New Parent Life Insurance Coverage?

No, not in every scenario. Many insurers will offer no-exam life insurance coverage for healthy applicants. This is perfect for newly busy parents who do not have the time to schedule a comprehensive medical exam. These no-exam life insurance policies can be rapidly approved, often within the same day, while still being able to offer competitive rates and strong protection.

💬 What If You Already Have Life Insurance Through Work?

If you happen to already have life insurance through your work, that’s great, but it’s usually only around 1-2 times your annual salary. It also ceases to exist if you change jobs. Choosing to add your own personal life insurance policy will ensure your family remains protected over the long term, even if you choose to change jobs.

🧸 Common Mistakes New Parents Make When Choosing Life Insurance Coverage

Delaying coverage: The sooner you choose to apply, the lower your premiums will be; as the older you are, the higher the premiums will likely be

Relying solely on employer insurance: It’s rarely sufficient for growing families, as it’s only 1-2 times your annual salary

Insuring only one parent: Both roles matter financially, whether it’s a caretaker or a primary breadwinner

Underestimating childcare & education costs: Always plan for inflationary effects accordingly

A few smart decisions early on can make a world of difference for your family’s future financial security.

🌟 The Lambert Agency Advantage

Here at The Lambert Agency, we simplify the process of securing a life insurance policy for busy parents like yourself. We’ll help you with the following:

Compare policies from multiple top-rated insurers
Choose the right amount and type of coverage for your family’s specific needs
Find the best rates for your age, health, and budget; while still offering strong protection
Set up flexible coverage that can grow as your family grows

We handle all of the intricate details, so you can focus on what matters most: your new baby.

Get a Free Life Insurance Quote for New Parents in Austin, TX

Your family’s financial future deserves the best protection which is as strong as the love you have for them. Allow The Lambert Agency to help you find the best life insurance coverage to secure your child’s future, today. 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.