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About Life Insurance

Term Insurance...

The best time to get life insurance is when you are young.  It is very affordable and most young people will never be healthier than they are now.  If you wait too long to get life insurance, the premiums will cost a lot more...and if you develop health problems, you may be uninsurable.  Keep your term policy in force and you can often convert it into a whole life policy.


A term policy is one which gives low-cost life coverage for a fixed period of time, such as 5 years, 10 years, 15 years or 20 years.  Term insurance is called "pure insurance."  They only cover  the unfortunate death of the covered individual. There are other types of insurance which offer tremendous advantages and options over term...  But term life insurance is a good place to start. 

You may have read  or heard about term life insurance on the radio or television.  Be careful to avoid buying the cheapest insurance you can find.  It would be beneficial to pay a little bit more and get added  features such as a convertible feature

Term insurance is affordable and protects young couples and young families who are just starting out.  You can use it for a few years, then you can graduate to a better life insurance plan with additional benefits and increased coverage.

A Good Place to Start


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Whole Life Insurance

Protection for Your Whole Life

Family with Tablet

Whole life insurance has been around for quite a long time and they have evolved.  The concept behind insurance is a group of people united in protecting one another in case of a tragic loss of one or more of the members of the group.  Every member of the group pays a small monthly or annual premium.  If the group has no losses, the money was held in reserve.  Eventually, the insurance "mutual" fund managers had so much extra money, it made sense to invest the money.  The investments produced good returns.  Eventually, the fund managers would declare dividends and return some of the premiums to the group members.  Whole life policies have evolved over the years and offer a variety of cash accumulation options.


Whole life insurance,sometimes called cash value insurance) is a type of coverage that—you guessed it—lasts your whole life. Whole life plans are generally more expensive than term life. There are a couple of reasons for that, but mostly it’s because you’re not just paying for insurance here.

Whole life insurance costs more because it’s designed to build cash value, which means it tries to double up as an investment account. Getting insurance and a savings account with one monthly payment? It might sound like a smart way to kill two birds with one stone, but really, the only bird getting hit here is your financial future.  

  • Term life is “pure” insurance, whereas whole life adds a cash value component that you can tap during your lifetime.

  • Term coverage only protects you for a limited number of years, while whole life provides lifelong protection—if you can keep up with the premium payments.

  • Whole life premiums can cost five to 15 times more than term policies with the same death benefit, so they may not be an option for budget-conscious consumers.

  • Whole life, however, lasts your entire life and accrues a cash value that you can borrow against or withdraw while still alive.

  • Death benefits from either type of policy are granted income-tax-free. The cash value inside of whole life also receives favorable tax treatment.

What are the main differences between Term and Whole Life Insurance

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Indexed Universal Life Insurance

A Good Place to Start

Indexed universal life insurance policies give policyholders the option to allocate all or a portion of their net premiums (after paying for the insurance coverage and expenses) to a cash account. This account credits interest based on the performance of an underlying index with a floor of 0% return and a cap rate or participation cap on the return.


Many investors are turning to Indexed Universal Life policies because of the no-loss guarantee.   You can contribute to a cash value account and get good returns on your retirement investment without the risk of losing everything in the stock market.  Your investment is tied to the market performance and your annual interest rate of return will be sightly diminished in exchange for the no-loss guarantee.

On average, these IUL policies have been doing quite well with many who are frustrated with the low performance of 401K plans that accrue increased taxes in retirement...and you cannot access your funds until a later age without penalties.  IUL policies have unfettered access to their cash values at any time and for any reason.  The cash value grows tax-free because it is considered a death benefit.  Many have even termed this kind of life as the Bank on Yourself concept or Be You Own Banker...Own Your Own Bank.  Because you can request a loan using your cash value as get instant approval.  And you do not ever have to pay the money back.  They will simply take the money back out of your death benefit when you pass.  The remaining funds are distributed to your heirs. 

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Bank On Yourself Is a Safe Wealth-Building Strategy

Bank On Yourself gives individuals and families a way to bypass the often-turbulent volatility of the stock market to grow wealth safely and predictably, using the compounding power of supercharged dividend-paying whole life insurance policies.

Bank On Yourself is a strategy that is being used by hundreds of thousands of folks across North America to guarantee the growth of their retirement savings and emergency funds, to provide needed cash for business expansion and college expenses, and more.

Bank On Yourself Explained Briefly

The Bank On Yourself strategy is a proven alternative to conventional retirement accounts that gives you guaranteed, predictable growth, access to your money with no restrictions or penalties, plus tax-free retirement income withdrawals. It relies on a supercharged form of dividend-paying whole life insurance that has enjoyed positive growth every single year for nearly two centuries and puts you in control of your money and finances.

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