Plan today for a secure tomorrow

Life insurance offers financial support to your family after you pass. It covers essential expenses, like utilities, groceries, and funeral costs, while also replacing lost income for the beneficiaries.

When it comes to buying life insurance, it’s best to do it sooner rather than later. As you get older, insurance rates tend to increase. Getting your policy early allows you to lock in the lowest premium and save money in the long term.

You can estimate how much life insurance you might need by multiplying your annual income by a factor of ten. Or you can add up your ongoing expenses and then subtract your assets. While these practices will give you a general idea of how much life insurance is right for you, it’s always best to speak with an experienced insurance advisor to help you determine your true coverage needs.

Insurance rates are determined by multiple factors, but the primary considerations are health risks and lifestyle risks. Underwriters will review your health history, including current health status, family health history, and tobacco use. They will also consider motor vehicle reports and hobbies to assess your lifestyle risk.

When used in addition to your health insurance coverage, life insurance can be leveraged for medical needs while you are alive. Offering “living benefits”, some policies can give you access to funds that you can use to cover hospital bills, nursing home stays, or other large healthcare expenses.

Yes, you can borrow against certain types of life insurance, but not all policies offer this option. Permanent life insurance, like whole life, builds cash value that can be borrowed against, while term life insurance does not. Before borrowing, it’s important to understand how it works, potential risks, and repayment terms. For a full breakdown of which policies allow borrowing and how the process works, read our complete guide.