Everyone needs to be protected in times of loss. With life insurance you can provide for your loved ones even if . . . Well, you’re not there. It isn’t comfortable to think about but being prepared to provide for those you love in the event of your passing is important no matter what stage of life you are in.


Term life insurance is sold in several different formats.  The common component in Term life is that it does not accrue any cash value.  You are simply paying a premium for insurance for a stated length of time.

There are two typical types of term insurance

Level term:  

Level term is typically sold in terms of 10, 20, or 30 years.  The policy may offer to continue coverage after that term but with very substantial rate increases.

Annual renewable:

Annual renewable term insurance provides coverage on an annual basis usually with age bands for premium increases.

Conversion options:

Some term insurance policies allow for conversion to a permanent policy.



Permanent insurance policies are typically offered as Whole Life or Universal Whole Life policies.

Whole Life:

Typically, whole life is simply a policy that covers an insured for their whole life with a level premium that does not increase over the life of the policy. Whole life often allows for payment options of 10 year, 20 year, 30 year, or full pay.


Universal Whole Life

There are many different Universal Life policies available that offer flexible payment options, increasing face value and even policies that provide for tax savings in retirement.  Be careful, universal life policies can sometimes be full of surprises if not understood.


Available Riders:

Many life policies offer riders that can be purchased for an additional premium.  There are many different riders offered.  below are some of the most common:

Guaranteed insurability rider

This rider allows you to buy additional coverage at certain times within the life of the policy or during certain life events of the insured.

Wavier of premium

This rider allows for the premium to be waived in the event that the policyholder has certain life-changing events.

Accidental Death

This rider increases the payout to a policy beneficiary if the insured dies from a death that was ruled an accident.

Accelerated Death

This rider allows for a portion of the policy’s death benefit in the event of a diagnosis of terminal illness of the insured.

Long Term Care

This rider provides a great option for providing help for funding long-term care in the event that the insured is unable to do a certain number of the “Activities of Daily Living” or ADL’s.