Life insurance is a defensive financial tool. There is a 100% chance the game will end completely one day. The question is, are you leaving behind enough money to take care of the people that depended on you for food, clothing and shelter? Do the bills that you have been paying stop for your family?

There are many types of life insurance; term, whole life, variable life, universal life and index life. Which one is best is based on your current situation and what fits your financial game plan. Family planning, mortgage replacement, estate equalization, estate planning, key executive plans, buy/sell agreements and backing loans are all reasons to purchase life insurance.

The first thing that must be considered is the amount of coverage needed. How much to replace the debts? How much to replace a percentage of your income? The benefit amount could be affected by your health and your financial situation.

Term insurance is the lowest cost way to have coverage. It is like auto insurance because nothing gets paid until the last day happens.

Whole life, universal life, index life and variable life are policies that are mostly designed to level out your premium for your entire life. They build a cash value which is used to help pay for the insurance costs as you get older. The cash value builds differently amongst each policy and comparing the guarantees, costs and surrender charges is critical.

We coach our clients through the process to help purchase the best insurance for their financial situation. Our role is to ask questions, investigate options and provide information to help our clients make a solid financial decision.