TERM LIFE INSURANCE

What It Is

Temporary life insurance that lasts for a set number of years.

Provides pure death benefit protection with no cash value.

Offers the highest coverage amount for the lowest cost.

Benefits

Most affordable life insurance option.

Fixed premiums for the entire term.

Ideal for income replacement and protecting dependents.

Often available with no medical exam.

Convertible to permanent coverage with many carriers.

Types Inside It

Level Term

Decreasing Term

Annual Renewable Term (ART)

Return of Premium Term (ROP)

Mortgage Protection Term

Simplified Issue Term

Fully Underwritten Term

Accelerated / Instant Decision Term

Convertible Term

Best For

Families who need income protection.

New parents, homeowners, and people with debt.

Individuals wanting maximum coverage for low cost.

People needing coverage for a specific time period (10–30 years).

WHOLE LIFE INSURANCE

What It Is

Permanent life insurance that lasts your entire lifetime.

Builds guaranteed cash value over time.

Premiums never increase.

Benefits

Guaranteed death benefit for life.

Guaranteed cash value accumulation.

Premiums stay the same forever.

Eligible for dividends with participating carriers.

Can be used for estate planning, wealth transfer, or savings.

Types Inside It

Traditional Whole Life

Level Benefit Whole Life

Modified Whole Life

Graded Benefit Whole Life

Simplified Issue Whole Life

Guaranteed Issue Whole Life

Final Expense Whole Life

Participating Whole Life (with dividends)

Non-Participating Whole Life

Limited-Pay Whole Life (10-pay, 20-pay, Paid-Up 65)

Single Premium Whole Life (SPWL)

Children’s Whole Life

Best For

People wanting lifelong coverage.

Families building long-term financial security.

Parents and grandparents planning generational wealth.

Seniors needing final expense coverage.

Individuals who want guarantees.

FINAL EXPENSE WHOLE LIFE

What It Is

A simplified type of whole life designed to cover funeral and end-of-life costs.

Small permanent policies ($5,000–$40,000).

Benefits

No medical exam required.

Fast approvals, even with health issues.

Premiums never increase.

Lifetime coverage.

Types Inside It

Level Benefit

Graded Benefit

Modified Benefit

Guaranteed Issue (for hardest cases)

Best For

Seniors.

People with health issues.

Anyone wanting to avoid burdening their family with funeral expenses.

GUARANTEED ISSUE WHOLE LIFE

What It Is

Permanent life insurance with no medical exam and no health questions at all.

Guaranteed acceptance for most ages 45–85.

Benefits

Approval regardless of health.

Fixed premiums.

Permanent protection.

Types Inside It

Guaranteed Issue Whole Life (always graded)

Accidental death add-ons (optional)

Best For

People who have been declined elsewhere.

High-risk applicants.

Seniors needing final expense protection.

SIMPLIFIED ISSUE LIFE INSURANCE

What It Is

A policy that requires only health questions — no medical exam.

Used for term, whole life, and final expense.

Benefits

Fast approval.

Higher acceptance than fully-underwritten.

Convenient and modern process.

Types Inside It

Simplified Issue Term

Simplified Issue Whole Life

Simplified Issue Final Expense

Best For

Busy adults.

Moderate-health individuals.

Quick and easy coverage seekers.

FULLY UNDERWRITTEN LIFE INSURANCE

What It Is

Traditional life insurance requiring a medical exam, labs, and full underwriting review.

Benefits

Lowest premiums available.

Highest coverage amounts ($1M+).

Best long-term pricing.

Most rider options.

Types Inside It

Fully Underwritten Term

Fully Underwritten Whole Life

Fully Underwritten Universal Life (non-variable)

Best For

Very healthy applicants.

High-income earners.

Business owners needing large coverage amounts.

GUARANTEED UNIVERSAL LIFE (GUL)

What It Is

Permanent insurance designed to act like “lifetime term.”

Low cost, guaranteed premiums, guaranteed death benefit.

Benefits

Lifelong coverage at lower cost than whole life.

Premiums stay guaranteed.

Minimal cash value — focus is on coverage, not savings.

Types Inside It

GUL to age 90

GUL to age 95

GUL to age 100

GUL to age 121

Best For

Lifetime coverage without whole life pricing.

Estate planning.

Seniors wanting permanent protection.

CURRENT ASSUMPTION UNIVERSAL LIFE (CAUL / UL)

What It Is

Flexible, adjustable premium universal life.

Cash value grows at a declared interest rate (not market-based).

Benefits

Flexible premiums.

Adjustable death benefit.

Potential for cash value growth.

Good for people who want customization.

Types Inside It

Flexible Premium UL

Non-Lapse Guarantee UL (lite version)

Single Premium UL (non-variable)

Best For

People wanting flexibility.

Individuals who want some cash accumulation.

Middle-income households planning long-term.

SURVIVORSHIP / SECOND-TO-DIE LIFE INSURANCE

What It Is

One policy covering two people and paying out after the second person dies.

Benefits

More affordable than two separate policies.

Ideal for estate planning.

Protects inheritances, trusts, and legacy assets.

Types Inside It

Survivorship Universal Life (SUL)

Survivorship Whole Life

Guaranteed Survivorship UL

Best For

Married couples.

Families with estate tax concerns.

Parents wanting to leave wealth to children.

DECREASING TERM LIFE INSURANCE

What It Is

Term insurance where the death benefit decreases over time.

Premium stays level.

Benefits

Matches decreasing debts like mortgages.

Very affordable.

Types Inside It

Mortgage Protection

Loan Protection

Creditor Term Life

Best For

Homeowners.

People wanting to insure a specific debt.

RETURN OF PREMIUM TERM (ROP TERM)

What It Is

A term policy that refunds 100% of your premiums if you outlive the term.

Benefits

Acts like forced savings.

You get your money back tax-free.

Coverage with zero net cost.

Types Inside It

20-year ROP Term

30-year ROP Term

Term + ROP Rider

Best For

People who want term but hate the idea of “losing money.”

Long-term planners.

ACCIDENTAL DEATH INSURANCE (AD&D)

What It Is

Not traditional life insurance — pays ONLY for accidental death or severe injury.

Benefits

Very low cost.

Easy to qualify for.

Can double or triple the death benefit with riders.

Types Inside It

Standalone AD&D

Accidental Death Rider on a life policy

Accidental Dismemberment Rider

Best For

High-risk jobs.

People needing cheap supplemental protection.

Individuals who already have traditional life coverage.

CHILDREN’S LIFE INSURANCE

What It Is

Whole life coverage for children, with guaranteed cash value and guaranteed insurability.

Benefits

Locks in permanent insurability.

Low premiums that never increase.

Cash value for their future.

Convertible to adult coverage.

Types Inside It

Children’s Whole Life

Child Term Rider

Paid-Up Additions for Minors

Best For

Parents and grandparents.

Families wanting generational coverage.