Term Life Insurance
Coverage for a selected period. Often used for temporary protection needs such as income, debt, mortgage obligations, or family expenses.
Life insurance
Understand life insurance options before choosing a policy.
Life insurance needs may depend on income replacement, debts, mortgage obligations, family expenses, education goals, final expenses, existing coverage, savings, assets, and business responsibilities.
Common policy types
No single product is right for everyone.
Policy terms, guarantees, costs, underwriting, exclusions, and suitability vary. Review official illustrations and policy documents carefully.
Whole Life Insurance
Permanent coverage. Fixed premiums may apply depending on the policy, and the policy may include cash value. Terms, guarantees, and costs vary.
Universal Life Insurance
Permanent coverage with flexible features that may be available. Premiums, interest, fees, and policy performance vary and require monitoring.
Indexed Universal Life
Interest-crediting may be linked to an external market index. The policy does not directly invest in the stock market. Caps, participation rates, spreads, fees, charges, and assumptions matter.
Final Expense Insurance
Designed to help with funeral and end-of-life costs. Benefit amounts may be smaller than traditional life policies, and eligibility/pricing vary.
Mortgage Protection
Life coverage may help surviving family members address mortgage obligations. It is generally life insurance, not lender mortgage insurance.
Children's Life Insurance
May provide permanent coverage and future insurability benefits depending on the policy. Review costs, benefits, alternatives, and goals carefully.
Business or Key-Person Needs
Some business owners review coverage for business continuity or key-person concerns. This requires a careful professional review.
Important limitations
Life insurance illustrations are not guarantees.
Cash value and policy performance may vary. Indexed products do not directly invest in indexes. Poor funding or changing assumptions can affect policy performance. Indexed universal life requires a full suitability and policy review.
Questions to discuss with an advisor.
What is the purpose of coverage? How long is protection needed? What amount may be appropriate? Are there existing policies? What budget fits the household? Do tobacco use, health questions, or underwriting apply?