Life Insurance


Life insurance is designed to provide for the welfare of the loved ones you leave behind.  It helps your family with the financial support you currently provide.  Life insurance has the purpose to provide the financial security for your beneficiaries.  It pays a lump sum, tax-free payment.  These funds can be used as necessary to maintain income, pay for education, take care of debts, and final expenses.

As you can tell, life insurance is a solution for many financial situations:



Especially if you are the primary wage earner, life insurance provide funds for ongoing expenses if you should die unexpectedly.


Proceeds from a life insurance policy can pay off a mortgage, credit cards, or lines of credit. It can provide at least a stop-gap so that your family can maintain a standard of living until their situation resolves.

Final Expenses and Estate Fees

Funeral costs can cost thousands of dollars. Probate expenses and fees can mount up rapidly. Life insurance can pay these expenses without the need to sell other critical assets.

Child Care and Education

It is a boon for post-secondary education costs, or even for current day care or other child care needs.

Tax Liabilities and Estate Preservation

By using life insurance proceeds to pay for any taxes, it means the balance of the estate remains intact for investment and future needs.

Trust Fund

If you would like to establish trust funds for designated individuals, proceeds from life insurance policies can take care of that without dipping into other investments.

Term Life Insurance (Temporary)

This is generally purchased to cover short-term needs.  A typical circumstance might be to cover parent(s) raising a small family.  Term Insurance provides financial proceeds in the event of the death of the insured to provide:

  • Cover debts like mortgages, business or personal loans, vehicle financing.
  • Replace immediate income.
  • Education like college or university.
  • Spousal retirement plan

Term Life Insurance is offered for periods of 10, 15, 20 and 30 year terms.  The premiums established are guaranteed for that period of time.  The coverage can be extended but typically will involve higher rates.

Permanent Life Insurance (Universal Life and Whole Life)

This is coverage for a person’s entire life.  Premiums are usually at the same rate for the entire period of coverage, unless the owner decides otherwise.  With Permanent Life Insurance the insured is covered for the entire span of their life.  No additional medical examinations are required.

Permanent Life Insurance is offered as Whole Life, Participating Life and Universal Life.  As explained previously, these policies cover the insured’s life until death.  There are added benefits that include investment accounts and cash values.  These additional benefits may also carry tax benefits to be called upon during the insured’s lifetime.

This type of policy also offers the advantage to plan for:

  • Estate Planning
  • Tax benefits including cash value
  • Retirement savings

Both Term and Permanent Life Insurance policies can be owned by an individual or by a corporation.  Typically corporate policies are used to cover the life of a key person, during buy/sell agreements, and for insured retirement plans.