Life Insurance
Life insurance replaces income, pays off debts, or funds future goals if something happens to you. I help you compare term policies (coverage for a set number of years) and permanent options (coverage that lasts your lifetime and can build cash value). We look at what you're protecting and pick the type that fits.
- Term, whole life, universal life, and no-exam options
- Coverage for income replacement or estate planning
- Policies for business owners and key employees
What this covers
Term Life
Coverage for a set number of years. Usually the most affordable way to cover the stretch when a mortgage, an income, or kids at home still depend on you.
Level Term
The premium and the benefit both stay the same for the whole term. The most common shape, and the easiest to budget around.
Convertible Term
Includes the right to convert to permanent coverage later without new medical underwriting, within the policy conversion window.
Renewable Term
Can be renewed at the end of the term without new underwriting. The premium goes up based on your age at renewal.
Return-of-Premium Term
Pays back the premiums you paid if you outlive the term. Costs more up front than standard term for the same benefit.
Whole Life
Permanent coverage with a level premium and cash value that builds on a guaranteed schedule.
Universal Life
Permanent coverage with flexible premiums and an adjustable death benefit, so the policy can flex as circumstances change.
Indexed Universal Life (IUL)
Cash value is credited based on the movement of a market index, subject to a floor and a cap. The money is not invested directly in the market.
Guaranteed Universal Life (GUL)
Universal life structured around a guaranteed death benefit rather than cash value growth. Often the lower-cost route to lifetime coverage.
Survivorship / Second-to-Die Life
One policy covering two people that pays after the second death. Common in estate and legacy planning.
Children's Life Insurance
A small permanent policy on a child, usually including a guaranteed option to add coverage later regardless of their health then.
Simplified-Issue Life
Health questions instead of a medical exam. Faster to issue, generally with lower coverage limits.
Guaranteed-Issue Life
No health questions and no exam within the issue ages. Benefits are typically graded during the first policy years.
No-Medical-Exam Options
Underwritten from health questions and data rather than a paramedical exam. What qualifies depends on age, coverage amount, and carrier.
Key Person Life Insurance
Owned by a business on an employee whose loss would hurt it, so the business has cash to absorb the disruption.
Buy-Sell Funding
Funds a buy-sell agreement so surviving owners can buy out a departing owner's share without draining the business.
Executive Bonus Strategies
The business pays premiums on a policy the executive owns and keeps. Used as a retention benefit.
General information about how these work, not a recommendation. What is available to you depends on your situation, the carrier, and your state.