Strategic Partnerships

Generally speaking, if you have dependents or are married, your family can benefit from you having a life insurance policy. Life insurance offers peace of mind by ensuring that your loved ones will be taken care of in the event of your untimely death. Plus, payouts are tax free. 

Rates tend to go up as you age. Buying a policy when you’re younger lets you lock in a lower rate. 

This depends on what you want to leave when you’re gone. There are 2 common methods for calculating the amount of life insurance you need: lump sum and income replacement. You can use this estimator tool to get an understanding of how much life insurance you may need. 

The cost of your life insurance policy is dependent on a variety of different factors, ranging from your age, sex, location and health. You can use this term life insurance tool to get an idea of what life insurance may cost you. 

"Term" refers to the length of coverage that you choose. If you pass away during the term (usually 10, 20 or 30 years), your beneficiaries receive a cash payout. 

With term life insurance, you’re paying for only the years where the need is greatest (when your kids are younger or in college), and it is usually the most affordable type of insurance. 

Life insurance through your employer is not portable, so it won’t come with you if you leave the job. Also, the amount is often not enough to meet people’s protection needs. 

Permanent life insurance falls under 3 types of policies: whole, universal or variable. These policies cover your entire life and usually build cash value over time, but they tend to be more expensive than term life insurance.