Life insurance
Term, permanent and final expense coverage compared across carriers — with straight answers about which one you actually need.
Life insurance does one job: it replaces money your family would lose if you weren't there. A mortgage that still has to be paid. Years of income they were counting on. A business that needs time to be sold properly. Funeral costs nobody planned for.
Everything else — the product names, the riders, the cash value — is detail. The right policy is the one that covers that gap at a price you can keep paying for as long as the gap exists.
We're independent, so we compare across carriers rather than selling one company's lineup. And we'll tell you when the simpler, cheaper option is the better one.
The types we compare
Term life
Covers you for a set number of years — usually 10, 20 or 30 — and costs far less than any permanent policy for the same death benefit. If your goal is protecting a mortgage and your children's growing-up years, term does the most for the least. Most families are best served here.
Whole life
Permanent coverage with a guaranteed death benefit and a cash value that grows at a rate set by the carrier. Predictable, and considerably more expensive than term for the same coverage.
Indexed universal life (IUL)
Permanent coverage with flexible premiums and a cash value whose growth is linked to the performance of a market index, subject to caps, floors and participation rates the carrier sets. The floor means a bad market year doesn't produce a negative crediting rate; the cap means a great year is limited too.
IUL is more complex and more expensive than term, and the illustrations you'll be shown are projections based on assumptions, not guarantees. It can fit specific situations — estate planning, business succession, someone who has already maxed out other tax-advantaged options and has a long horizon. It's a poor fit as a substitute for term when the real need is replacing income for the next twenty years. We'll show you both side by side and explain the trade-off honestly.
Final expense
A small whole life policy, typically $5,000 to $25,000, meant to cover funeral costs and final bills. Acceptance is easier and often requires no medical exam, which makes it a common choice for older adults who can't qualify for traditional coverage.
How much coverage do I need?
A common starting point is 10 to 12 times your annual income. It's a reasonable rule, and it's only a starting point.
The real number comes from what would actually have to be paid: your remaining mortgage balance, any debt that wouldn't disappear, how many years your household would need income replaced, your children's ages and what their education would cost, and any coverage you already have through work.
Buying too little is the common mistake. Buying far more than the gap, in a product more expensive than you need, is the other one.
Do I need a medical exam?
Not always. Many carriers offer simplified-issue or no-exam policies where you answer health questions instead of taking a paramedical exam. Approval can come in days rather than weeks, though the premium is typically higher for the same coverage.
Which route makes sense depends on your age, your health and how quickly you need the policy in force. We'll tell you when the exam is worth the wait.
Can I qualify with a health condition?
Usually, yes. Diabetes, high blood pressure, high cholesterol, sleep apnea, past cancer and many other conditions are insurable. What changes is the rate class, not whether you can get covered at all.
This is where an independent broker earns their keep: carriers underwrite the same condition very differently, and the one that rates you hardest and the one that rates you most favorably can be quoting the same person in the same week.
Who this is for
- Parents with a mortgage and children at home
- Self-employed people whose household depends on their income
- Business owners who need buy-sell funding or key-person coverage
- Anyone whose only coverage is through an employer
- Older adults who want funeral costs covered so family doesn't carry them
- Anyone whose existing policy is about to expire or hasn't been reviewed in years
How we help
We compare across the carriers we represent, not one company's products.
We size the coverage to the actual gap, and we say so when a smaller, cheaper policy covers it.
We match the underwriting to your health history, so you're applying where you're likely to be rated well rather than where you'll be declined.
We explain permanent policies in plain terms — what's guaranteed, what's projected, and what happens if you stop funding it.
And we're here after the policy is issued, for beneficiary changes, reviews and claims.
Our guidance costs you nothing. Carriers pay our commission, and it's built into the policy's price, which is filed and regulated. You pay the same either way.
What to have ready
- Dates of birth for you and anyone else to be covered
- A rough picture of your health history and any current medications
- Your mortgage balance and other debts
- Any coverage you already have, including through work
- Who you want named as beneficiary
Frequently asked questions
How much life insurance do I need?
A common starting point is 10 to 12 times your annual income, but the real answer depends on your mortgage balance, your children's ages, any debt that wouldn't disappear and how many years your household would need income replaced. We'll work through the numbers with you.
Term or permanent — which is right for me?
Term covers a set number of years and costs far less for the same death benefit. Permanent lasts your whole life and builds cash value, at a much higher premium. Most families with a mortgage and children at home are better served by term; permanent policies fit specific estate, business or long-horizon planning needs.
What is IUL, and is it right for me?
Indexed universal life is permanent coverage with flexible premiums and a cash value tied to a market index, subject to caps, floors and participation rates set by the carrier. It's more complex and more expensive than term, and the illustrations are projections, not guarantees. It can fit specific planning situations, but it's a poor substitute for term when the real need is replacing income for the next twenty years. We'll show you both honestly.
Can I borrow against a permanent policy?
Most permanent policies allow loans or withdrawals against accumulated cash value. Both reduce the death benefit while outstanding, and a policy that lapses with an outstanding loan can create a taxable event. The tax treatment depends on your situation, so we'd point you to a CPA before you plan around it.
Do I need a medical exam?
Not always. Many carriers offer simplified-issue or no-exam policies where you answer health questions instead. Approval is faster, though the premium is usually higher for the same coverage.
Can I qualify with a health condition?
Usually yes. Diabetes, high blood pressure, past cancer and many other conditions are insurable — what changes is the rate class. Carriers underwrite the same condition very differently, which is exactly why working with an independent broker helps.
Is the payout taxed?
Life insurance death benefits are generally paid to beneficiaries free of federal income tax. Estate tax can apply in certain situations. We're not tax advisors, so for your specific case we'd point you to a CPA.
Isn't the life insurance from my job enough?
It's a good start, but it usually ends when the job does, and the amount is often only one or two times your salary. A personal policy stays with you regardless of where you work, and locks in your rate at your current age and health.
Request your free quote
Not sure how much you need, or whether term is enough? Book a free 15-minute call. We'll run the numbers and tell you straight — including when the cheaper policy is the right one.
Related coverage
Supplemental insurance
Accident, hospital indemnity and critical illness plans that pay cash benefits on top of your health plan.
View coveragePrivate health insurance
Individual and family medical plans with broad doctor and hospital networks and direct access to specialists.
View coverageACA Marketplace health plans
Health Insurance Marketplace plans with subsidy review and free help enrolling, renewing and reporting income changes.
View coverage