Life Insurance
The Different Types of Life Insurance
Term Life Insurance
Affordable, Simple, Temporary Protection
Term life insurance provides coverage for a set period—like 10, 20, or 30 years. If you pass away during that time, your loved ones receive a tax-free payout.
✅ Lower monthly cost
✅ Great for income replacement, mortgage protection, or young families
⛔ No cash value—coverage ends when the term expires
Whole Life Insurance
Lifelong Coverage with Cash Value
Whole life insurance never expires as long as premiums are paid. It also builds cash value over time that you can borrow against.
✅ Guaranteed coverage for life
✅ Fixed premiums that never go up
✅ Cash value grows at a guaranteed rate
⛔ Higher cost than term insurance
Universal Life
Flexible Coverage That Adapts Over Time
Universal life gives you lifelong protection with more control. You can adjust your coverage amount and premium payments as your needs change.
✅ Permanent coverage with flexibility
✅ Potential to grow cash value based on interest
✅ Option to increase or decrease your premium
⛔ Requires active management to avoid lapses
Final Expense
Simple Protection for End-of-Life Costs
Also known as burial insurance, final expense is designed to cover funeral costs, medical bills, or small debts.
✅ Affordable and easy to qualify for
✅ No medical exam in most cases
✅ Coverage amounts typically range from $10,000 to $25,000
⛔ Not ideal for large family or income replacement needs
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Frequently Asked Questions
What’s the difference between term and whole life insurance?
Term life provides coverage for a set period (like 10, 20, or 30 years), while whole life lasts your entire life and can build cash value over time.
Do I really need life insurance?
If someone depends on your income—like a spouse, child, or business partner—life insurance can help cover expenses like debt, funeral costs, and ongoing living expenses after you're gone.
How much life insurance do I need?
It depends on your income, debts, financial goals, and how long your loved ones would need support. A good rule of thumb is 10–15 times your annual income, but every situation is different.
Can I change my policy later on?
Some policies offer flexibility to convert, add coverage, or make changes. It’s best to review your policy regularly with your agent.
We are not connected with or endorsed by the United States government or the federal Medicare program. We do not offer every plan available in your area. Currently we represent 6 organizations which offer 35 products in your area. Please get in touch with Medicare.gov or 1-800-MEDICARE to get information on all your options.