Contact Me
Term life insurance lasts for a specified number of years and then ends. You choose the term when you take out the policy, with common terms being 10, 20, or 30 years. The best-term life insurance policies balance affordability with long-term financial strength.
Types of Term Life Insurance:
Term life insurance is attractive to young people with children because parents can obtain large amounts of coverage at reasonably low costs. Upon the death of a parent, a significant benefit can replace lost income.
These policies are also well-suited for people who temporarily need specific amounts of life insurance. For example, the policyholder may calculate that by the time the policy expires, their survivors will no longer need extra financial protection or will have accumulated enough liquid assets to self-insure.
Term life insurance is for a predetermined period, typically between 10 and 30 years. Term policies may be renewed after they end, with premiums recalculated based on the holder’s age, life expectancy, and health. By contrast, whole life insurance covers the entire life of the holder. Unlike a term life policy, whole life insurance includes a savings component, where the cash value of the contract accumulates for the holder. The holder can withdraw or borrow against the savings portion of their policy, where it can serve as a source of equity.
Whole life insurance, also known as traditional life insurance, provides permanent death benefit coverage for the life of the insured. In addition to paying a death benefit, whole life insurance also contains a savings component in which cash value may accumulate. Interest accrues at a fixed rate and on a tax-deferred basis.
Whole life insurance policies are one type of permanent life insurance. Universal life, indexed universal life, and variable universal life are others. Whole life insurance is the original life insurance policy, but it does not equal permanent life insurance as there are many types of permanent life insurance.
Universal life insurance and whole life insurance are both permanent life insurance types that offer guaranteed death benefits for the life of the insured. However, a universal life policy allows the policyholder to adjust the death benefit as well as the premiums. As one might expect, higher death benefits require higher premiums. Universal life policyholders can also use their accumulated cash value to pay premiums, provided the balance is sufficient to cover the minimum due. Whole life insurance, alternatively, does not allow for changes to the death benefit or premiums, which are set upon issue.
Universal life (UL) insurance is permanent life insurance (lasting the lifetime of the insured) that has an investment savings element and low premiums similar to those of term life insurance. Most UL insurance policies contain a flexible-premium option. However, some require a single premium (single lump-sum payment) or fixed premiums (scheduled fixed payments).
Unlike term life, UL insurance policies can accumulate interest-bearing funds like a savings account. Additionally, policyholders can adjust their premiums and death benefits. Those paying extra toward their premium receive interest on that excess.
If you want to build tax-deferred savings and don’t expect to tap into the funds for a long time, universal life may be a suitable option. The cash value option that’s part of a universal life policy may be available for you to withdraw or borrow against in an emergency.
It’s a good idea to talk with your insurance provider to better understand your life insurance options. They can help you review your personal situation and long-term goals to choose a policy that’s a good fit for you and your family.
Health insurance is essential for protecting you and your family from financial hardship due to unexpected medical events such as illness, injury, or hospitalization. It covers doctor visits, prescriptions, emergency care, and major procedures. Whether you’re managing a chronic condition or planning ahead for peace of mind, the right health insurance provides critical support and security.
Health insurance policies typically include preventive care like annual checkups and screenings, emergency services, and ongoing treatment for chronic conditions. These coverages work together to help you maintain your health, catch issues early, and handle medical costs—whether from a sudden accident or a long-term health challenge.
Imagine facing a sudden medical emergency that leads to surgery and a hospital stay. Without insurance, you’d be responsible for tens of thousands in bills. With the right health insurance plan, your policy helps cover medical expenses, prescriptions, and follow-up care—reducing financial stress and helping you focus on recovery.
Health insurance isn’t one-size-fits-all. From selecting a plan with the right deductible and out-of-pocket limits to choosing providers and prescription coverage, customizing your policy ensures it fits your lifestyle and health needs. Working with an experienced agent helps you build a plan that provides real value and peace of mind.
Supplemental health insurance offers added financial protection when your primary health plan doesn’t cover everything. It provides benefits for unexpected events like critical illness, accidents, or hospital stays. Without this extra layer of coverage, out-of-pocket costs could add up quickly—supplemental insurance gives you added peace of mind.
Supplemental policies can be tailored to include accident coverage, critical illness protection, hospital indemnity, and more. These options help pay for co-pays, deductibles, lost income, and other expenses not covered by your main policy—ensuring you’re financially supported during tough times.
Imagine being diagnosed with a serious illness that keeps you out of work for several months. Even with health insurance, the extra costs could be overwhelming. Supplemental insurance provides a cash benefit that helps cover lost wages, travel for treatment, and household expenses—helping you stay financially afloat.
A good supplemental health policy does more than pay bills. It protects your peace of mind, your lifestyle, and your financial stability. Choosing the right combination of benefits ensures you’re prepared for the unexpected—so you can focus on your health, not your wallet.