Comprehensive coverage options with living benefits included
Affordable protection for a specific period
Young families, mortgage protection, income replacement, budget-conscious buyers
Lifetime protection with cash value growth
Estate planning, wealth transfer, long-term savings, permanent protection needs
Flexible permanent coverage with adjustable premiums
Those wanting permanent coverage with flexible premiums, supplemental retirement income
Simplified coverage for end-of-life expenses
Seniors (50-85), covering funeral and burial costs, paying off final expenses
Guaranteed retirement income for life
Retirement planning, supplemental income, pension alternatives, market protection
| Feature | Term Life | Whole Life | Universal Life | Final Expense | Annuities |
|---|---|---|---|---|---|
| Coverage Duration | 10-30 years | Lifetime | Lifetime | Lifetime | Lifetime income |
| Cash Value | No | Yes | Yes | Yes | Yes |
| Living Benefits | Varies by policy | Varies by policy | Varies by policy | Varies by policy | Income riders |
| Premium Flexibility | Fixed | Fixed | Flexible | Fixed | Lump sum/Flexible |
| Medical Exam | Varies by policy | Varies by policy | Varies by policy | Varies by policy | Varies by policy |
| Best For | Budget-conscious, temporary needs | Long-term wealth building | Flexibility seekers | Seniors, funeral costs | Retirement income |
Enhance your policy with optional riders
Add coverage for all children in your household under one affordable rider. This single addition to your policy covers all your eligible children, including any born or legally adopted after you purchase the policy. Coverage amounts are typically $1,000 to $25,000 per child. When children reach adulthood (usually 18-25), they often have the option to convert this coverage to their own permanent policy without medical underwriting.
Skip premium payments if you become disabled and unable to work. If illness or injury prevents you from earning an income, this rider keeps your life insurance policy fully active without requiring payments. There's typically a waiting period of 3-6 months before the waiver kicks in, and you'll need to meet the policy's definition of disability. Your coverage and cash value continue growing as if you were still paying.
Increase coverage in the future without medical underwriting. This rider gives you the right to purchase additional life insurance at specific intervals (every 3 years, at certain ages, or after life events like marriage or having a child) regardless of any health changes. You lock in your current health status for future purchases, which is incredibly valuable if you develop conditions that would otherwise make you uninsurable.
Additional payout if death results from an accident. Often called "double indemnity," this rider pays an extra benefit (typically equal to your base death benefit) if you die from a covered accident rather than illness or natural causes. Some policies extend this to cover accidental dismemberment, paying partial benefits for loss of limbs, eyesight, or hearing.
Add life insurance coverage for your spouse at a discounted rate. Instead of purchasing a separate policy, you can add term coverage for your spouse to your existing policy at lower administrative costs. Coverage amounts are usually limited compared to the primary policy. If your spouse dies, you receive the benefit and your main policy continues. Many spouse riders also include conversion options.
Get all premiums back if you outlive your term life policy. If you're still alive when your term policy expires, the insurance company refunds every premium dollar you paid, typically tax-free. This eliminates the "use it or lose it" concern some people have about term insurance. The trade-off is significantly higher premiums (often 2-3 times more) than standard term policies.
If you're diagnosed with a terminal illness and given a limited time to live (typically 12-24 months), this rider lets you access 25-95% of your death benefit while you're still alive. You can use the money for medical bills, bucket list experiences, or anything you choose. The amount paid out early is deducted from what your beneficiaries receive.
Covers expenses if you need extended care in a nursing home, assisted living facility, or require in-home health aides. Instead of buying a separate long-term care policy, this rider lets you tap into your life insurance for these costs. Particularly valuable since the average nursing home stay costs over $90,000 annually.
Provides a tax-free lump sum payment upon diagnosis of specified serious conditions, commonly including cancer, heart attack, stroke, kidney failure, major organ transplant, and sometimes Alzheimer's or Parkinson's. Unlike health insurance, you can spend this money however you want - medical bills, lost wages, travel for treatment, or household expenses.
Activates when you cannot perform two or more activities of daily living (bathing, dressing, eating, toileting, transferring, continence) or experience severe cognitive impairment. Similar to long-term care but typically has fewer restrictions on how funds are used.
Allows you to convert your term policy to whole life or universal life insurance without proving you're still healthy. Extremely valuable if you develop health conditions during your term. Conversion is usually available until a certain age (often 65-70) or within a specific timeframe.
Pays you a monthly benefit (typically 1-2% of your death benefit) if illness or injury prevents you from working. Some versions are "own occupation," meaning you qualify if you can't do your specific job, while others require you to be unable to work any job.
Your death benefit automatically increases each year, usually tied to the Consumer Price Index or a fixed percentage (2-5%). This ensures inflation doesn't erode the purchasing power of the benefit your family would receive decades from now.
If you've borrowed heavily against your permanent life insurance cash value and the loan balance threatens to exceed the cash value (which would normally terminate your policy), this rider keeps a reduced death benefit in force. Protects against accidentally losing coverage in retirement.
Lets you make extra premium payments to buy small chunks of additional permanent coverage. Each addition is "paid up," meaning it requires no future premiums and immediately starts accumulating its own cash value. Popular for building tax-advantaged savings within a policy.
Designed for high-net-worth individuals whose estates may face significant federal or state estate taxes. Provides a specific death benefit amount calculated to cover anticipated tax liability so heirs don't have to sell assets like family businesses or property.
Instead of your beneficiaries receiving one large lump sum, this rider pays them a steady monthly or annual income for a specified period (often 10-20 years). Helps families budget and prevents the risk of mismanaging a large windfall during an emotional time.
If you're laid off or your employer goes out of business through no fault of your own, this rider waives your premium payments for a set period (usually 3-12 months). Keeps your coverage active during financial hardship without draining your savings.
Gives you the right to buy additional life insurance at specific future dates (birthdays, marriage, birth of a child) without medical underwriting. Lets young, healthy people lock in insurability for life changes they anticipate.
Covers all your children (current and future) under one affordable addition to your policy. Coverage typically continues until they reach adulthood (18-25), at which point they can often convert to their own permanent policy without a health exam.
Let our experienced advisors help you choose the perfect coverage