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LIFE INSURANCE 101

 

Learn the fundamentals of life insurance to help determine what is best for you.

There are basically two types of life insurance. Term life and permanent life.

Permanent Life is also known as whole life because it is designed to last your entire life. It also builds a cash value so you simply can not out live the death benefit.


Term Life is also known as pure insurance because it has only the death benefit and no cash value. When the amount of time the term is set for ends, unless you are willing to pay a much higher premium, your policy ends.


Universal Life - There are hundreds of variations of term and permanent, but the most popular is Universal Life. This is also one of the most abused variations of life insurance. If you are working with an agent who is proposing a Universal Life policy, please work with a professional who knows what they are doing. Don't work with a rookie as it is too easy to make a costly mistake. Universal Life is a great product if you design it correctly.


Variable Life is a scary variation of Life insurance. It is the only version of life insurance that can actually lose money and reduce the death benefit. If this is the direction you want to go, be sure to work with a seasoned Certified Financial Planner (CFP).

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HOW MUCH INSURANCE DO YOU NEED? The link I am providing you with to determine how much life insurance you need is from a non profit website. This way there is no bias. After you determine what dollar amount you need, call me and we can determine the best way to get you there.    CLICK here for a life insurance calculator.

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Getting a Quote:

For quotes of $25,000 or more click Here. 

For a quote under $25,000  Click Here.

HINT: quotes under $25,000 will have fewer questions and will issue easier.

Contact Me:

Bob Adams, CLTC, CCD

23 S 8th St Ste 800

Noblesville, IN 46060

Hamilton County

317-402-3171

[email protected]