Finding the right life insurance shouldn’t feel overwhelming. At our company, we’re here to guide you every step of the way, ensuring you have the protection and peace of mind you and your loved ones deserve.

Life insurance

A contract between a policyholder and an insurer, life insurance pays a sum of money to designated beneficiaries when the insured person dies. The proceeds can be used to cover funeral costs, pay off debts, replace lost income, or fund a child's education. 

• Term life insurance: This type of policy provides coverage for a specific period, or "term," such as 10, 20, or 30 years. If you die within that time frame, your beneficiaries receive a payout. This is often the most affordable option and is a good fit for people who need coverage for a specific time, such as until their children are grown or a mortgage is paid off.

  • Example: A 35-year-old couple with young children purchases a 20-year term policy. The policy is designed to cover the family's financial needs until the children become adults.

• Whole life insurance: A type of permanent life insurance, this policy provides lifelong coverage as long as premiums are paid. It also includes a cash value component that grows over time at a fixed interest rate. This cash value can be borrowed against during your lifetime.

  • Example: A person buys a whole life policy to ensure funds are available for their spouse and to leave an inheritance, regardless of when they die. Over time, they can borrow against the policy's cash value for a down payment on a new home.

• Universal life insurance: This is another form of permanent coverage that offers more flexibility than a whole life policy. A portion of your premium goes into a cash value account, and you may be able to adjust your premium payments and death benefit over time, within certain limits.

  • Example: As your financial situation changes, you can adjust your premium. If your cash value has grown sufficiently, you can use it to cover a premium payment, providing more flexibility. 

Health insurance

Health insurance helps pay for covered medical expenses, such as doctor visits, hospitalizations, and prescription drugs. There are different plan structures that determine your choice of doctors, your costs, and how you receive care. 

• Health Maintenance Organization (HMO): A plan that requires you to choose a primary care provider (PCP) within its network. The PCP then coordinates all your care and provides referrals to specialists. This plan typically has lower premiums and out-of-pocket costs, but little to no coverage for out-of-network care.

  • Example: A person enrolled in an HMO needs to see a dermatologist. First, they must visit their PCP to get a referral before seeing the specialist.

• Preferred Provider Organization (PPO): PPO plans do not require you to choose a PCP or get a referral to see a specialist. You can see both in-network and out-of-network providers, though out-of-pocket costs are higher for out-of-network care.

  • Example: A person on a PPO plan wants to see a specialist for a knee injury. They can make an appointment directly with the specialist, but will pay less if the doctor is in their plan's network.

• High-Deductible Health Plan (HDHP): An HDHP features a lower monthly premium in exchange for a higher deductible. These plans can be paired with a Health Savings Account (HSA), which allows you to set aside pre-tax money for medical expenses.

  • Example: A young, healthy person chooses an HDHP with an HSA. They pay a low monthly premium and use their HSA funds to cover expenses until they meet their high deductible. 

Mortgage protection insurance (MPI)

MPI is a type of life insurance specifically designed to cover the cost of your mortgage if you pass away. Some policies also offer riders to cover payments if you become disabled or lose your job. 

The "new kind" of mortgage protection

Rather than an old-style, decreasing-term policy that pays the lender directly, the updated approach centers on using modern life insurance to protect the mortgage. 

The "new kind" (using life insurance) Policy

A standard term life or whole life insurance policy.

*Coverage - The death benefit remains constant (level-term) for the entire policy period, regardless of your mortgage balance.

*Payout - The death benefit is paid to your family or other chosen beneficiaries.

*Benefit usage - The beneficiaries can use the tax-free payout for any purpose, such as paying off the mortgage, covering living expenses, or other debts.

*Flexibility - Highly flexible. The policy can be used for any financial purpose, not just the home.