Guide
How Much Life Insurance Do I Actually Need?
Walk through the DIME method (Debt, Income, Mortgage, Education) and why rules of thumb usually miss.
Read MoreGuides & Explainers
Understand It Before You Buy It
Plain-English explanations of the products and decisions we get asked about most. No sign-up required.
Guide
Term vs. Permanent: An Honest Comparison
What each one is genuinely good at, what they cost, and why most households end up with a blend of both.
Read MoreChecklist
New Homeowner Protection Checklist
Six things worth reviewing in the first year after closing, including the coverage gap most buyers don't notice.
Read MoreExplainer
Reading an IUL Illustration Properly
Which column actually matters, what the assumed rate is doing, and the questions to ask before you sign.
Read MoreGuide
Planning Ahead for Final Expenses
How to price a funeral realistically in your area and size coverage from actual local numbers.
Read MoreGuide
Buy-Sell Agreements: Funded vs. Unfunded
Why a signed agreement without money behind it can still leave partners in an impossible position.
Read MoreGlossary
Insurance Terms, Translated
Beneficiary
The person or entity you name to receive the death benefit. Primary beneficiaries are first in line; contingent beneficiaries receive it only if the primary cannot. Keeping these current after a marriage, divorce or death is one of the most commonly neglected housekeeping tasks in insurance.
Death Benefit
The amount paid to your beneficiary when a claim is approved. Generally received income-tax-free by the beneficiary, though estate tax situations can differ.
Premium
What you pay to keep the policy in force, monthly, quarterly or annually. On level term and whole life, this stays the same for the period specified in the contract.
Underwriting
The insurer's process of assessing your health, lifestyle and finances to decide whether to offer coverage and at what rate. This is where carrier differences show up most sharply.
Rider
An optional add-on that modifies the policy, for example a waiver of premium rider, a child term rider, or an accelerated death benefit rider for critical illness.
Cash Value
The accumulating account inside a permanent policy. It can generally be borrowed against or withdrawn, subject to policy terms. Loans accrue interest and reduce the death benefit if unpaid.
Cap, Floor and Participation Rate
In indexed products: the floor is the minimum crediting rate (often 0%), the cap is the maximum, and the participation rate is the percentage of index movement used in the calculation. All three are set by the carrier within contract limits.
Surrender Charge
A fee applied if you withdraw more than the permitted amount from an annuity or permanent policy during an initial period. Always ask how long the surrender period runs before committing.
Contestability Period
Typically the first two years, during which an insurer can investigate and potentially deny a claim based on material misstatements on the application. This is the practical reason to answer application questions completely and accurately.
Free Look Period
A window after policy delivery (length varies by state) during which you can cancel for a full refund of premium. Use it to actually read the policy.
Life Events
When It's Worth Reviewing Your Coverage
Coverage that fit perfectly five years ago may not fit now. These are the moments that usually change the maths.
You bought a home or refinancedA new loan resets both the balance and the term you need covered.
A child was born or adoptedNew dependant, longer time horizon, and often a bigger income-replacement need.
You got married or divorcedBeneficiary designations and coverage amounts both usually need updating.
Your income changed materiallyCoverage sized to an old salary won't replace a new one.
You started or sold a businessKey person exposure and buy-sell funding change with ownership.
You changed jobsEmployer group coverage typically ends with employment.
A term policy is nearing its endConversion options often have deadlines. Missing them can be expensive.
You're within ten years of retiringThe question shifts from accumulating to generating income.
Before You Meet Anyone
What To Have Ready
01
Your Numbers
Household income, mortgage balance and remaining term, other debts, and roughly what's in savings.
02
Existing Coverage
Any policies you hold, including employer group cover. The annual statement is usually enough.
03
Health History
Conditions, medications and any recent procedures. Accuracy here saves time and prevents surprises.
04
Your Priorities
What you'd most want handled: the house, the kids' education, income, the business.
A Note On These Resources
Everything here is general educational information about how these products work. It is not a recommendation, an offer
of coverage, or tax, legal or investment advice. Product features and availability vary by carrier and state. Please
speak with a licensed professional about your specific circumstances.
Still Have Questions?
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