Life Insurance

What is Life Insurance

I call life insurance love insurance because we ultimately buy it for the ones we love. There are three types of life insurance: Term, Whole Life, and Universal Life.These products are designed to ensure that the people you care about - namely your children and partner, will be taken care of financially if you pass away. With a life insurance policy, your family can receive a payment when you die, tax free, as long as your premium is active and paid for at the time of your death. That payment can be used for whatever your beneficiaries want or need, including funeral expenses, paying off outstanding debt, starting a business, college tuition and more.


Life insurance is not just about the death benefit either. There are living benefits that are available to use while you are still alive. These benefits, if done correctly, can be used to become your own bank, supplement your retirement income, or help with medical bills if you become disabled or ill.


IT’S TIME TO PUT THE “LIFE” BACK IN LIFE INSURANCE.

Book an Appointment

Types of Life Insurance Policies

Term Life Insurance is the simplest form of life insurance. You pay a small affordable premium for a period of time (typically between 10-30 years) and if you pass away during that time; a death benefit is paid out tax free to the beneficiary.


Whole Life Insurance is a permanent policy that comes with a tax-free guaranteed death benefit. It can last your entire life and premiums will never change. Permanent policies also have a cash account attached that grows over time. This cash value can be used to supplement retirement, help with emergencies, pay for college expenses, or start a business.

Universal Life Insurance is a permanent policy that comes with more flexible options, tax-free death benefit, and cash accumulation. This cash value can potentially grow more than whole life and can be used as you wish. 


Guaranteed Issue Life Insurance is a type of whole life policy that allows you to skip health questions or medical exams. Usually has small face amounts (death benefit) between $1,000 - $50,000.


Final Expense is a type of whole life policy that is used to pay for funeral expenses. These usually have a small death benefit amounts as well.

Share by: