Life Insurance

Understanding Your Life Insurance Options

Life insurance is a key part of a solid financial plan — it helps protect the people you care about most. With several types of policies available, it’s important to understand how each one works so you can make the best choice for your needs and goals.

Here’s a quick overview of the most common types of life insurance:

Term Life Insurance

Term life provides temporary coverage for a specific number of years — typically between 10 and 30. It’s often used to protect your loved ones during high-need periods like paying off a home or supporting young children.

You choose the coverage amount and length of time.
Payments can stay level or increase over the life of the policy.
If you pass away while the policy is active, your chosen beneficiaries receive the full benefit amount.
Because it doesn’t include a cash value component, premiums are usually lower than other types of coverage.

Universal Life Insurance

Universal life insurance offers permanent coverage with more flexibility than other lifelong options. It also builds cash value over time, which can be used in a variety of ways.

The coverage lasts as long as the policy remains funded.
You can adjust your death benefit or premium payments (within certain limits).
Cash value builds over time and can be accessed or borrowed from.
Premiums can sometimes be skipped if enough value has built up in the policy.
This option may offer a higher return potential than traditional whole life, but with some market risk involved.

Whole Life Insurance

Whole life insurance is a permanent policy with predictable costs and guaranteed benefits. It’s designed to offer lifelong protection and build tax-deferred cash value.

Premiums stay the same for the life of the policy.
The policy builds cash value you can borrow against, though unpaid loans reduce the death benefit.
The death benefit remains fixed and is paid to your beneficiaries whenever you pass away.
Often used as a long-term financial planning tool due to its stability and guarantees.

Final Expense Insurance

Final expense policies are designed to help your family cover costs related to your passing — including funeral services, medical bills, and small outstanding debts.

Typically easier to qualify for, with lower coverage amounts.
Designed to reduce the financial burden on loved ones during an already difficult time.
Helps ensure your final wishes are carried out and your family isn’t left with unexpected costs.
Also provides peace of mind by letting you plan ahead and dictate how assets and expenses are handled.

We're Here to Guide You

Choosing the right life insurance is personal — and it’s not one-size-fits-all. Whether you’re looking for temporary protection or long-term financial planning, we’ll help you find the right fit for your budget, your family, and your future.

Life Insurance Comparison: Term vs. Permanent

Feature	Term Life Insurance	Permanent Life Insurance
Coverage Length	10–30 years (fixed term)	Lifetime (as long as premiums are paid)
Cost	Lower premiums	Higher premiums
Cash Value	None	Builds over time (tax-deferred)
Purpose	Temporary needs: mortgage, income, tuition	Long-term needs: legacy, estate, lifelong income
Flexibility	Fixed term; renew or convert if allowed	Can adjust premiums/death benefit (some plans)
Payout	Paid only if death occurs during term	Guaranteed payout, whenever death occurs
Loan or Withdrawal Option	No	Yes - borrow or withdraw from cash value
Best For	Budget-conscious, short-term coverage	Lifelong planning, wealth transfer, tax strategy

How Much Life Insurance Do You Really Need?

When choosing a life insurance policy, one of the most important decisions you’ll make is determining the amount of coverage — known as the face value — your loved ones would need if something happened to you. The goal is to make sure your family can stay financially stable in your absence.

Here are a few key factors to consider when calculating how much life insurance you might need:

1. Outstanding Debts

Start by adding up all your existing debts. This includes things like:

Mortgage balance
Auto loans
Credit cards
Personal loans

For example, if you owe $200,000 on your home and another $4,000 on a car loan, you’ll need at least $204,000 in coverage just to clear those balances — possibly more to account for interest or additional fees.

2. Replacing Your Income

If your family depends on your income, it's crucial to consider how they’ll manage without it. A general rule of thumb is to multiply your annual income by 10–15 years.

Let’s say you earn $40,000 a year and want to ensure your family can maintain their lifestyle for at least 10 years. That means you’d need around $400,000 to $500,000 just to cover income replacement. Some people also add an extra year or two of salary to help offset inflation.

3. Future Financial Goals

You may also want your policy to help cover upcoming major expenses — such as your child’s education, wedding, or ongoing care for a dependent.

For example, if you plan to help your child through college, you might want to include an extra $100,000 or more in your coverage estimate.

Example: Putting It All Together

Here’s what a full calculation might look like:

Income replacement: $500,000
Mortgage and debt payoff: $240,000
College fund: $100,000

Total recommended coverage: $840,000

This number will vary depending on your personal situation, but it gives you a strong foundation for determining how much protection your family may need.

What About Insuring Others?

You may also wonder if you should take out a policy on someone else in your life. As a general rule, you should only insure individuals whose passing would cause a financial burden. For example, if your spouse contributes to household income, it's wise to assess their needs using the same approach.

Next Steps

Once you’ve estimated how much coverage is right for your family, you can begin comparing policies and prices to find one that fits both your needs and your budget. Life insurance isn't just about numbers — it’s about peace of mind for those you care about most.

Term vs. Permanent Life Insurance: Which One Fits Your Needs?

Which Type of Life Insurance Is Right for You?

Term vs. Permanent Life Insurance

When shopping for life insurance, one of the biggest decisions you'll face is whether to go with term or permanent coverage. Each has unique advantages depending on your financial goals, your family’s needs, and how long you want coverage to last.
Let’s break down the difference — and help you decide which option fits your plan.

Term Life Insurance: Simple, Affordable Protection

Term life insurance offers coverage for a set number of years — commonly 10, 20, or 30. It’s designed to provide financial protection during key stages of life, such as raising children, paying off a mortgage, or covering lost income if something happens unexpectedly.
Because it doesn’t build cash value and has an end date, term life is typically much more affordable than permanent policies.

Permanent Life Insurance: Lifelong Coverage with Added Value

Permanent life insurance stays in effect for your entire lifetime, as long as premiums are paid. These policies also accumulate cash value over time, which can be borrowed against or used for future needs like retirement income, emergencies, or legacy planning.
While more expensive than term, permanent life insurance offers long-term benefits beyond the basic death benefit.

Protecting Your Loved Ones from Unexpected Costs

Why Burial and Final Expense Insurance Might Be Worth Considering

Losing a loved one is one of life’s most difficult experiences. In the middle of grief and emotional stress, families are often forced to make quick financial decisions — and those decisions can come with a high price tag.

One way to ease that burden is by planning ahead.

What Is Burial or Final Expense Insurance?

Burial insurance — sometimes called final expense insurance — is a type of whole life insurance designed specifically to cover end-of-life costs. These policies are typically easier to qualify for than larger life insurance plans and are often available to individuals up to age 100.

Coverage amounts are usually smaller than traditional life insurance, but they’re intended to do one important thing: make sure your loved ones aren’t left with financial stress after you're gone.

What Does It Cover?

While coverage varies by plan, most final expense policies can help your family pay for:

Funeral or memorial services
Casket or cremation
Burial plot and headstone
Transportation and procession costs
Unpaid bills or minor outstanding debts

These expenses can quickly add up to thousands of dollars. Without a plan in place, your family may be left scrambling to find funds — often while still dealing with their grief.

Why It Makes Sense

Here are a few key benefits of final expense insurance:

Fixed premiums that won’t increase over time
Lifelong coverage, as long as premiums are paid
No medical exam required in many cases
Peace of mind knowing your loved ones won’t face unexpected costs

Rather than leaving the people you care about with both emotional and financial challenges, you can leave behind a plan that takes care of the hard part.

Make the Call Today — For Their Tomorrow

If you want to take one worry off your family’s shoulders, now is the time to explore your options. Final expense insurance is simple, affordable, and powerful.

Reach out today to learn more about how you can protect your loved ones with a policy that’s designed to ease their burden — not add to it.