Life Insurance Quotes
Life Insurance
Life insurance is simple, let's not over complicate it. Life insurance is here to protect your loved ones from financial hardship in the event of your death. Period.
For 99% of the population that is life insurance singular purpose. Don't be fooled by the "Be Your Own Bank" crowd or the thousands of Tik Tok videos touting life insurances many different uses.
Life insurance should be affordable and effective. Click the Quote Here link to shop a variety of policies from dozens of carriers all without getting 100 phone calls from agents that bought your information off a solicitation list. We are here to help if you need it.
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Life Insurance 101
Highlights
- The most affordable
- Higher Coverage For Lower Premiums
- Can Be Converted Later
- No Cash Value
- Limited Rider Options
What It Is
Life insurance for a specified period of time or "term." Typically the coverage stays in place for the length of the term selected. Common terms are 5, 10, 15, 20, 25 or 30 years.
Some carriers and policies will allow you to convert to a permanent policy later on, without proving insurability.
Highlights
- Level Premium For Life
- Most Expensive Type of Insurance
- Builds Cash Value
- Coverage For Life
What It Is
As the name would suggest, this life insurance covers you for your entire life. While it is the most expensive way to purchase life insurance it does have the additional benefit of level premiums for the entirety of the policy.
Cash value can build and can be used later on. Cash value growth is typically tied to the insurance company general account.
Highlights
- Coverage Can Last For Life
- Can Build Cash Value
- Less Expensive Than Whole Life
- Payment Terms More Flexible
What It Is
Very similar to Whole Life in that these policies grow cash value and are a permanent life policy. These do offer more flexibility in premium requirements. Some even offer payments over a specified period of years while retaining coverage for life.
Cash value grows based on general interest rates.
Highlights
- A Permanent Policy
- Premium Can Be Flexible
- Can Grow Cash Value
- Some Index Exposure
What It Is
A permanent policy that CAN have some exposure to an index, such as the S&P 500, rather than a fixed amount. These typically offer a 0% floor on the index return. Because of the potential returns, premiums can be flexible.
This is the policy that is often sold as a "Be Your Own Bank" and we would caution 99% of the general public against that strategy.
Highlights
- Another Permanent Option
- Offers Some Premium Flexibility
- Offers Cash Value
- Cash Value Tied To Investment Performance
What It Is
Very similar to Index Universal Life with the exception that cash value returns are tied to specific sub-accounts. A big advantage is more control over those investment returns.
While there is potential for higher cash value growth, as with any investment those returns can also produce negative returns.