Life Insurance

Find the Right Policy for Life's Biggest Moments

At this point in your life, it’s fair to wonder if life insurance is really necessary.

However, life insurance gives seniors like you peace of mind knowing their families will have financial stability after they leave this earth.

Term, Whole, and Guaranteed are different types of life insurance that you can choose from. To find the right policy for you, it helps to talk with an advisor who will look at your budget and financial goals.

life insurance

Why Consider Life Insurance?

If anything bad is to happen, make sure to protect your loved ones and leave a legacy, providing financial security to them. Life insurance:

  • Replaces your income upon your passing.
  • Funds the cost of funerals, which are expensive.
  • Covers unpaid medical bills, credit card balances, and estate taxes.
  • Pays an immediate death benefit to your chosen beneficiary.

The Basics

When you sign up for a life insurance policy, you are agreeing to make payments (premiums) in exchange for a sum of money, called a death benefit. The death benefit will go to the people or person of your choice—your beneficiary.

Your beneficiary can use this money for end-of-life expenses such as funeral planning, mortgage payments, medical bills, daily living expenses, and more.

Whole Life Insurance

A whole or “permanent” life insurance policy may have a death benefit of $200,000 to more than $1 million. It’s more expensive than term life because you can get much more coverage (bigger payout for your family). With whole life insurance, you’ll also earn a small amount of cash value that you can access while you’re still living.

Universal Life Insurance

Universal life insurance (UL) is a kind of whole life with a similar death benefit. The focus here is on cash value. With UL, part of your premium can go towards stock investments to put money in your pocket while you’re enjoying your golden years.

Final Expense Insurance

Final expense insurance (FE) is the easiest policy to qualify for. Its death benefit ranges from $2,000 to $50,000, and you can get approved even if you have preexisting conditions and up to age 85, unlike the other life insurance.

Term Life Insurance

Finally, term life insurance is active for periods of 10-30 years without cash value. It costs less than whole life insurance but provides a similar death benefit. It’s perfect for young families looking for temporary coverage—until the kids move out.

I Make Life Insurance Simple

I can help you choose the life insurance company, type of policy, and coverage amount that aligns with your needs and budget. For a FREE consultation, call today!