WealthSecure Life
A WealthSecure Insights Service
Life Insurance Options
Tailored Protection for Every Stage of Life
Finding the Right Protection for Your Needs
Life insurance isn't one-size-fits-all. Different types of policies serve different purposes and life stages.
At WealthSecure Life, I help you navigate your options to find the right balance of protection, affordability, and features. As a licensed agent in Colorado, Texas, and Maryland, I provide personalized guidance based on your unique situation and goals.
Life Insurance Options
Explore the four main types of life insurance I offer through my partnership with Ethos.
Term Life Insurance
Affordable Protection for a Specific Period
Term life insurance provides coverage for a specific period (typically 10, 15, 20, or 30 years) with level premiums throughout the term. It offers the highest coverage amount for the lowest initial premium, making it ideal for young families, homeowners with mortgages, and those with temporary protection needs.
Whole Life Insurance
Lifetime Protection with Cash Value
Whole life insurance provides permanent coverage that lasts your entire lifetime with fixed premiums. It includes a cash value component that grows at a guaranteed rate over time. This cash value can be accessed during your lifetime through policy loans or withdrawals, making it a versatile financial tool for long-term planning.
Universal Life Insurance
Flexible Protection That Adapts
Universal life insurance offers permanent protection with flexibility in premium payments and death benefits. You can adjust your premiums and coverage as your financial situation changes, while building cash value based on current interest rates. This flexibility makes it ideal for those with changing financial circumstances or protection needs.
Term with Living Benefits
Protection That Works While You're Living
Term with Living Benefits enhances traditional term insurance by allowing you to access a portion of your death benefit if you experience a qualifying critical, chronic, or terminal illness. This transforms your policy from protection that only works after you're gone to a financial safety net you can use during your lifetime if serious health challenges arise.
Policy Comparison
A side-by-side look at the key features of each policy type
| Feature | Term Life | Whole Life | Universal Life | Term with Living Benefits |
|---|---|---|---|---|
| Duration | Specific period (10-30 years) | Lifetime | Lifetime | Specific period (10-30 years) |
| Premium Cost | Lower initial cost | Higher fixed cost | Flexible | Slightly higher than basic term |
| Cash Value | None | Guaranteed growth | Variable growth | None |
| Flexibility | Low | Medium | High | Medium |
| Living Benefits | None (typically) | Cash value access | Cash value access | Critical/chronic/terminal illness benefits |
| Best For | Young families, temporary needs | Estate planning, conservative investors | Changing financial circumstances | Those wanting health event protection |
How to Choose the Right Policy
Selecting the right life insurance policy depends on several factors unique to your situation:
- Your Age and Health - Generally, the younger and healthier you are, the more affordable your premiums will be
- Financial Obligations - Consider your mortgage, debts, and children's education costs
- Income Replacement Needs - How much your family would need to maintain their lifestyle
- Duration of Need - Whether you need coverage for a specific period or your entire life
- Budget - What premium payment fits comfortably in your monthly budget
- Long-term Financial Goals - Whether you want insurance to be part of your wealth-building strategy
The best policy is one that balances adequate protection with affordability and aligns with your overall financial plan.
Not Sure Where to Start?
I can help you navigate your options and find the right policy for your specific situation. As a licensed agent in Colorado, Texas, and Maryland, I provide personalized guidance based on your unique needs and goals.
Frequently Asked Questions
Common questions about life insurance options
A common rule of thumb is 10-15 times your annual income, but your specific needs depend on several factors including:
- Your current and future income
- Outstanding debts (mortgage, loans, credit cards)
- Future education expenses for children
- Funeral and final expenses
- Replacement of your income for your family
I can help you calculate a more precise amount based on your specific situation.
Neither is inherently "better" - they serve different purposes:
Term insurance is typically better for:
- Young families needing maximum coverage at lower cost
- Covering specific temporary needs (mortgage, children's education)
- Supplementing permanent insurance during high-need years
Permanent insurance (whole or universal) is typically better for:
- Lifetime coverage needs
- Estate planning and wealth transfer
- Building cash value as part of financial strategy
- Business continuation planning
Many people benefit from a combination of both types.
Through my partnership with Ethos, many applicants can qualify without a medical exam. Eligibility for no-exam policies depends on:
- Your age
- The coverage amount you're seeking
- Your health history
- Your answers to health questions on the application
Even when exams are required, they're often simple and can be conducted at your home or office. The exam typically includes height, weight, blood pressure, and blood/urine samples.
Living benefits allow you to access a portion of your death benefit while you're still alive if you experience qualifying health events:
- Critical Illness: Conditions like heart attack, stroke, cancer, or other life-threatening illnesses
- Chronic Illness: When you can't perform at least two activities of daily living for an extended period
- Terminal Illness: If you're diagnosed with a condition that will result in death within 12-24 months
The amount available depends on the severity of your condition and your policy's terms. Using living benefits reduces the death benefit your beneficiaries will receive.
Most policies include a grace period (typically 30-31 days) during which you can make a late payment without losing coverage. If you don't pay within the grace period:
- Term policies typically lapse, ending your coverage
- Permanent policies with sufficient cash value may use that value to pay premiums (automatic premium loan)
Some policies offer reinstatement options if they lapse, but this may require proof of insurability. Setting up automatic payments is the best way to avoid missed premiums.
Have more questions? I'm here to help.
Contact Me