What Is Universal Life Insurance and How Does It Work?

August 2, 2021

In a previous post we looked at the difference between Term & Whole life insurance. A third option is Universal Life. Universal Life lasts for the life of the insured, has a cash value, & has more options in terms of premiums.  The linked article is a great overview. However there are two points I like to mention. First the article mentions a physical exam. The exam is not always required, they key is to be as honest in the application to verify again your medical footprint. The other point...

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What Is Supplemental Life Insurance?

July 28, 2021

If 2020 taught us anything is that life in unpredictable. Not only did COVID significantly impact our health it closed many businesses. On top of the pandemic the industry I am in is a roller coaster ride of highs & lows, you never know when you might get the pink slip. Even being a superstar employee the way I like to think of myself, I might leave a company by choice, leaving the stable insurance behind.

Portability was the main reason I wanted supplemental coverage. As I learned more...

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Term vs. Whole Life Insurance

July 12, 2021

 I didn't know there were different types of life insurance. I thought life insurance was only used when some dies - must be all those crime shows I watch!

There are two buckets Term & Whole. Term is what I had in my head. Term is a policy for a time period, if the insured dies during the time period then the benefit is paid. Terms is usually cheaper in the short term. Whole includes more benefits & is usually more expensive. Whole covers you for the entirety of your life (not just a time...

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How much life insurance do I need?

July 6, 2021

"I have life insurance at work" is what I hear all the time. You need to ask yourself if it's enough. Sure $100,000 seems like a lot  BUT what does it cover?? Is it only a pay out if you die? There are all kinds of options (aka: "riders") that include living benefits. The big shock to me was to plan for 10x your income is ideal. Did I just shock you too?! Check out this article to learn how much you need. 

How Much Life Insurance Do I Need?

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How Does Life Insurance Work?

June 27, 2021

This article breaks down the basics of life insurance including, what it is, who it's for, & how it is priced. 

How does life insurance work?

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