Unlike some things you may purchase, a “one-size-fits-all” life insurance policy simply does not exist. Because of your unique situation and due to the fact you have specific needs and goals, it’s imperative that you find the best policy that’s right for you.

How do I find the best policy that’s right for me?

In order to make it easier to find the financial protection you need for your family, you really need to ask yourself a few questions as each individual’s need are specific and unique.

• How long do I want this Life Insurance policy to last?
• How much coverage do I need?
•  How much do I want to pay annually, quarterly or monthly?
• How much flexibility do I want?

Once you have your criteria in place, it’s time to find the best policy that aligns with your goals.

Term Life Insurance

Term life insurance is one of the most affordable options and is perfect for those seeking greater coverage – the monetary value of your policy – for a set period of time. Many terms last for 10 to 30 years, depending on which option you select. But, once your term ends, so does your coverage.

Term Life Insurance at a Glance:

• Usually the most affordable types of life insurance policies.
• Life insurance coverage from 10-30 years.
• Most valuable for those who need to have coverage for a specific time period such as while a family is still growing.

Whole Life Insurance

A whole life insurance policy is ideal for anyone who wants guaranteed coverage for the rest of their life at a premium amount that does not change.

Compared with a term life policy, a whole life policy is a more permanent option that is designed to provide you with coverage for just that — your whole life; as long as you continue to pay the premiums of course! Whole life insurance policies enable you to lock-in your premium rate, which means it won’t ever increase over time. Even though you will age and your health status will most likely change, your premium will remain the same. The amount you pay when you first get the policy will be exactly the same amount you will pay when it comes time for your retirement.

While it’s best to buy a whole life policy when you’re younger and healthier, as premium rates tend to be lower, whole life insurance policies are typically more expensive than term life insurance policies. The reason for the price difference is twofold: their “cash value” and their permanency. Cash value, which like an IRA or 401(k) is tax deferred, is available funds potentially set aside each time you make a premium payment. You can opt to leave the funds untouched and watch it grow or you can borrow against the cash value of your policy to cover the cost of an emergency. While the money can be used however you see fit, in order to maintain the full value or “death benefit” of the policy, it does have to be paid back with interest.

Whole Life Insurance at a Glance:

• Provides coverage that can last a lifetime.
• The premium amount you pay is locked in for life.
• Policies have Cash values that grow with each payment you make
• Could be valuable for those who want coverage for life. 
• Can’t decide between a term life and a whole life insurance policy? There’s one type of policy that can potentially offer you multiple benefit features: A Convertible Term Life Insurance policy allows you to purchase a term life policy now with the option to convert it to a permanent, whole life policy later, without any new medical exam or the need to prove you are insurable.

Universal Life Insurance

Similar to a whole life insurance policy, a universal life insurance policy offers coverage for up to a lifetime, or permanent life insurance, as long as premiums are paid. It also offers cash value, which like a whole life policy can be borrowed against should the need arise.

A universal life insurance policy can be ideal for those who are young and just starting out. It provides flexibility as the major difference between a universal life insurance policy and a whole life insurance policy is in the ability to adjust the benefit amount to meet your needs without having to buy an entirely different policy. 

Universal Life Insurance at a Glance

• Provides flexibility in being able to adjust the benefit amount (subject to approval by the life insurance provider).
•  Provides a tax-free benefit.
•  Has  cash value that grows with each payment.
• Could be valuable for those who may need their coverage changed over time.

Guaranteed Issue Whole Life Insurance

Guaranteed Issue Whole Life Insurance is a simple and affordable guaranteed issue life insurance policy designed to cover expenses like medical bills, credit card debt or funeral costs, and can help protect your loved ones from future financial burdens.

You can get a Guaranteed Issue Whole Life Insurance policy starting with coverage from $5,000 all the way up to $25,000.

Guaranteed Issue Whole Life is designed to provide you with comfort and peace-of-mind for just a few dollars a day. Plus, it includes benefits typically available only in more expensive policies. Best of all, acceptance is guaranteed. From application to policy issue, the process is simple, short and pain-free! If you’re age 50-80, with Guaranteed Issue Whole Life Insurance, sometimes referred to as Guaranteed Acceptance Whole Life Insurance, you can’t be turned down for health reasons, and you can receive a permanent, guaranteed issue life insurance policy without having to qualify for coverage based on your health. The benefits from this guaranteed acceptance life insurance can lend a helping hand for your loved ones during a difficult time.

Guaranteed Whole Life at a Glance

• Provides up to a lifetime of coverage.
• There is no medical exam required (as long as you’re between 55 – 85 years old). 
• Your premium amount is locked in for life.
• Could be valuable for those who want to help their loved ones cover final expenses, medical bills or debt.

Accidental Death Insurance

Accidental deaths are the fifth leading cause of death in the U.S. An Accidental Death and Dismemberment Insurance (AD&D) policy can help your family if the unthinkable happens. AD&D coverage kicks in if you die in a fatal accident or become disabled because of dismemberment. 

This type of insurance for accidental death is sometimes mistakenly thought to be accidental death and disability insurance, but that’s not exactly true. Yes, the point of this insurance is to help protect you financially if you’re seriously injured, but it is not disability insurance. Likewise, even though AD&D insurance provides an accidental death benefit, it’s not the same as life insurance. 

Regardless, AD&D coverage is a wise investment, but you must understand that AD&D doesn’t cover you for every type of death or dismemberment. You should still have life insurance to cover you in case of death. If you’re concerned about becoming disabled, you should get a separate disability insurance policy so you’re assured you’ll receive benefits if you’re unable to work.

Think of AD&D insurance as a supplemental policy to your life and disability insurance policies. AD&D can play a critical role, but it’s wise to think of it as added protection rather than sole relying on AD&D coverage. Don’t be left unprotected.

Accidental Death Insurance at a Glance

• There is no medical exam required or health questions to answer.
• There is no waiting period – you get fast processing with quick coverage
• You are guaranteed to be approved, as long as you meet the age requirements (18-80 years old).
• When it comes to life insurance policies, it’s good to have options available to you. Just make sure you are taking the proper time to do the research and asking the questions that are necessary to finding the best policy that’s right for you.