Life Insurance — Protecting the People Who Depend on You
Life insurance replaces your income and protects your family's financial future if you die unexpectedly. It is the most fundamental financial protection you can provide. As independent advisors with access to multiple carriers, we help you find the right type and amount at the right price.
Types of Life Insurance
Life insurance comes in several forms, from straightforward term coverage to permanent policies with cash value components. The right type depends on how long you need coverage and what role it plays in your overall financial plan.
Term Life Insurance
Pure death benefit protection for a set period of 10, 15, 20, or 30 years. The most affordable type and most appropriate for most families. Premiums are fixed for the term and coverage ends when the term expires.
Whole Life Insurance
Permanent coverage with a guaranteed death benefit, fixed premiums, and a cash value component that grows at a guaranteed rate. More expensive than term but provides lifelong coverage and cash value accumulation.
Universal Life Insurance
Flexible permanent coverage that allows you to adjust premiums and death benefits within certain limits. Cash value earns interest based on market rates or a declared rate depending on the policy type.
Indexed Universal Life (IUL)
Cash value growth linked to a stock market index with downside protection and upside caps. More complex than traditional UL and best suited for specific planning strategies with appropriate guidance.
Final Expense Insurance
Small whole life policies designed to cover funeral and burial expenses, typically $5,000 to $25,000 in coverage. Available with simplified or guaranteed issue underwriting.
Group Life Conversion
When you leave an employer with group life coverage, you typically have the right to convert that coverage to an individual policy without a medical exam. Premiums are higher, but it preserves insurability.
How much life insurance do you need?
A common starting point is 10 to 12 times your annual income, but the right amount depends on your specific situation.
- Outstanding mortgage balance
- Income replacement for dependents
- Children's education funding
- Spouse's retirement needs
- Business obligations
- Existing assets and savings
Term vs. permanent — which is right?
- Term: most people, most situations
- Term: temporary needs like mortgage and children
- Permanent: lifelong coverage need
- Permanent: estate planning strategies
- Permanent: cash value accumulation goal
- Get term first, add permanent if strategy warrants it
Key Decisions in Life Insurance
Getting the right life insurance means more than picking a product. These are the decisions that determine whether your coverage actually protects your family the way you intend.
Coverage Amount
The death benefit should replace your income and cover your family's financial obligations including mortgage, childcare, education, and ongoing living expenses. Underinsurance is the most common life insurance mistake.
- 10 to 12 times annual income is a starting point
- Add outstanding mortgage balance
- Factor in spouse income replacement needs
- Consider existing assets and savings
Term Length
Match your term to the period of your greatest financial vulnerability. A 20-year term suits young families with a mortgage; 30 years if you are starting a family early.
- 20-year term: most common choice
- 30-year term: young families
- 10-year term: specific near-term needs
- Laddering multiple terms can reduce cost
Premium Structure
Term premiums are level for the entire term and do not increase. Locking in a rate when you are young and healthy is the primary cost-management strategy.
- Level premiums for full term
- Lock in rates while young and healthy
- Annual vs. monthly payment options
- Non-smoker rates significantly better
Underwriting Class
Your health, age, family history, and lifestyle determine your underwriting class and directly determine your premium. An independent agent who knows carrier preferences can help you get into the right class.
- Preferred Plus: best rates, excellent health
- Preferred: very good health
- Standard Plus and Standard: average health
- Substandard: rated up for health issues
Policy Riders
Optional additions that customize your policy including waiver of premium, accelerated death benefit for terminal illness, child rider, and return of premium.
- Waiver of premium rider
- Accelerated death benefit
- Child term rider
- Return of premium option
No-Exam Life Insurance
Many carriers now offer accelerated underwriting with coverage up to $1M or more without a physical exam. Typically results in a decision within 24 to 48 hours.
- No blood draw or physical required
- Available up to $500K to $1M or more
- Decision in days not weeks
- May cost slightly more than fully underwritten
Frequently Asked Questions
Answers to the questions we hear most often about life insurance coverage, amounts, and how the process works.
A common rule of thumb is 10 to 12 times your annual income, but the right amount depends on your specific obligations, assets, and family situation. We recommend a needs analysis that considers your mortgage, income replacement for dependents, education funding goals, and existing assets.
Term life provides a death benefit for a set period at a fixed premium and is the most affordable option for most families. Whole life provides permanent coverage with a cash value component but costs significantly more. Most people benefit most from term coverage.
If no one depends on your income, the immediate need is lower. However, if you have a mortgage, business obligations, or want to lock in insurability while young and healthy, there may still be good reasons to purchase coverage now.
Traditional life insurance requires a medical exam including a blood draw, urine sample, and height and weight measurement. Results along with your medical history determine your underwriting class and premium. Many carriers now offer accelerated or no-exam underwriting for eligible applicants.
Group life coverage typically ends when employment ends. Most policies include a conversion right allowing you to convert to an individual policy without a medical exam within 31 days of termination. Premiums for converted policies are significantly higher than group rates.
Protect the people who depend on you.
We compare life insurance across multiple carriers to find the right coverage at the right price — independent advice with no carrier bias.