Life Insurance Plans That Fit Your Life
Life Insurance answers a deeply important question:
How will my family manage financially when I die?
Planning ahead may not prevent life’s uncertainties, but it helps protect the people you love. The right life insurance policy can secure your family’s future, provide income replacement, and support long-term financial goals.
Life Insurance Product Comparison
Use the chart below to compare the most common types of life insurance, Term Life, Whole Life, and Universal Life, so you can choose the right coverage for your needs and budget.
Term vs Whole vs Universal Life Insurance | |||
Term Life | Whole Life | Universal Life | |
Who Is It Good For? | Needs life insurance only Most affordable option Offers coverage for a specific period of time -often 10, 20, or 30 years | Values guaranteed premiums, cash value growth, and the potential to earn dividends – all in a policy that provides lifetime protection | Interested in long-term coverage with flexible premiums and the potential to build account value |
Guaranteed Premiums | Yes | Yes | Some policies have guarantees |
Cash Value Growth | No cash value | Guaranteed growth | Based on the current interest rate (which cannot be lower than the guaranteed minimum rate) |
Potential To Earn Dividends | No | Yes | No |
What Would I Use This For? | Cover a specific obligation, such as a mortgage or business loan Meet a large life insurance need with the most affordable policy | Meet a lifetime life insurance need Supplement retirement income Weather market fluctuations in retirement Leave a legacy for children or charity | Meet a long-term life insurance need Supplement retirement income Weather market fluctuations in retirement Leave a legacy for children or charity |
Estate Planning Benefits of Life Insurance
Life insurance plays a critical role in estate planning. Key benefits include:
- Income Replacement – Provides financial support for your surviving spouse or dependents.
- Estate Liquidity – Helps cover estate taxes, debts, and final expenses without selling assets.
- Wealth Transfer – Allows for tax-free inheritance through direct beneficiary designations.
- Asset Protection – Helps preserve your retirement savings and investment accounts.
What Is the Process for Getting Life Insurance?
Wondering how to apply for life insurance? Here’s what to expect when working with one of our licensed professionals:
- Initial Consultation – Understanding Your Needs
We begin with a quick phone call to learn about your financial goals, family situation, and long-term plans. - Personalized Recommendations – Comparing Life Insurance Options
We’ll review your situation and recommend the most suitable life insurance products, including term life, whole life, or universal policies. - Application and Approval – Securing Your Coverage
If you’re ready to proceed, we’ll help you complete your application. Some policies require a medical exam; others may not.
Ready to compare life insurance options?
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About the Author: Craig Matesky
Reviewed by: Mike Berger