Term Life Insurance
Temporary death-benefit protection for a defined period, often at a lower initial premium than permanent coverage for a comparable death benefit.
Term life can help address income replacement, mortgage obligations, family protection or business commitments if the insured dies while the policy is in force. Coverage typically lasts for a specified term.
Premiums, renewal terms and conversion options vary by policy. Coverage can end when the term expires, and term insurance generally does not accumulate cash value. Eligibility and pricing depend on underwriting and carrier requirements.
What we consider together
- Match the term to the duration of the financial obligation.
- Compare premiums, renewal provisions and conversion options.
- Review beneficiaries and the amount of protection needed.
Whole Life Insurance
Permanent life insurance designed to provide lifelong death-benefit protection and cash-value accumulation when required premiums and policy conditions are met.
Whole life typically includes contractual premiums, death benefits and cash-value guarantees subject to policy terms. Some policies may pay dividends, but dividends are not guaranteed.
It may have a role in family protection or estate and legacy planning. Policy loans and withdrawals can reduce cash value and death benefits, may cause a lapse and can have tax consequences.
What we consider together
- Understand premium commitments and policy guarantees.
- Separate guaranteed values from non-guaranteed illustrations.
- Review policy loan provisions, charges and surrender values.
Universal Life Insurance
Flexible permanent life insurance that can allow adjustable premiums or death benefits, subject to the specific policy and underwriting requirements.
Universal life combines a death benefit with a cash-value account, subject to interest crediting and ongoing policy charges. Flexibility does not mean premiums can be skipped indefinitely without affecting coverage.
The amount needed to maintain coverage may change with policy performance and costs. Regular reviews of funding, guarantees and in-force illustrations help assess whether the policy remains aligned with long-term protection needs.
What we consider together
- Review funding requirements and no-lapse guarantees, if offered.
- Understand the effect of charges and interest-crediting assumptions.
- Monitor policy performance and the risk of lapse.
Indexed Universal Life (IUL)
Permanent life insurance with cash-value interest crediting tied in part to an external market index. It is an insurance policy—not a direct investment in the stock market.
Interest crediting depends on policy caps, floors, participation rates, spreads and other contract terms. These terms may change within contractual limits. Index-linked crediting generally does not include index dividends.
A crediting floor does not protect cash value from policy charges, loan costs or withdrawals. Coverage requires adequate funding, and illustrated outcomes are not promises. Evaluate guaranteed and non-guaranteed values and the possibility of lapse.
What we consider together
- Distinguish index-linked interest crediting from market ownership.
- Understand caps, floors, participation rates and policy charges.
- Stress-test funding assumptions and review in-force illustrations.
- Evaluate loan risks and long-term premium requirements.
Final Expense Insurance
Smaller life insurance policies intended to help families address funeral costs and other final expenses.
A death benefit can provide beneficiaries with funds to use for eligible household needs, outstanding bills or funeral arrangements. Benefit amounts, premiums and underwriting differ by carrier.
Some policies have graded benefits or waiting periods. Review those limitations and compare the total cost and protection offered before applying.
What we consider together
- Review any waiting period or graded death benefit.
- Consider existing coverage and available family resources.
- Compare premiums, benefit amounts and exclusions.
Mortgage Protection
Life insurance that can help provide financial protection for a household if an insured homeowner dies.
A household may use a life insurance death benefit to help address a mortgage or other expenses. Mortgage protection is not the same as private mortgage insurance, which generally protects the lender.
Policy structures differ. Evaluate whether the benefit is level or decreasing, who receives it, the duration of coverage and any exclusions. The appropriate amount depends on your household’s broader financial needs.
What we consider together
- Match coverage to household obligations and the mortgage term.
- Understand the beneficiary and death-benefit structure.
- Compare mortgage-focused coverage with other life insurance options.