What is Individual Life Insurance?
Individual life insurance provides a cash benefit to your beneficiaries if you pass away—offering peace of mind and support for debts, education, or living expenses. Policies can be term or permanent.
Covered Needs:
Income Replacement
Debt Repayment
Education Funding
Final Expenses
Legacy Planning
Estate Taxes
FAQ
What’s the difference between term and whole life insurance?
Term life covers you for a set period (like 10 or 30 years); whole (permanent) life lasts your entire life and often includes a cash value component.
How much coverage do I need?
Consider your debts, income, children’s needs, and future expenses. Many experts recommend 7–10 times your annual income as a starting point.
Can I change or cancel my policy?
You can usually change your beneficiary, coverage amount, or convert term to permanent. You can cancel anytime, but permanent policies may have cash value.
Do I need a medical exam?
Many policies require a simple exam, but there are no-exam and simplified issue policies available if you prefer a quicker process.