How much life insurance do I need?

You should buy enough life insurance to cover all of the needs you have identified. You can get an idea using an Insurance Needs Calculator. Once you are done, you will know whether you need permanent insurance or term insurance, or both, and how much of each.

What is No Medical or Simplified Issue Insurance?

No Medical & Simplified Issue insurance is typically underwritten with just a few medical questions, no doctors and no tests. This type of insurance tends to be for smaller amounts of insurance and/or applicants who have more health issues.

What is Term Insurance?

• Term Insurance covers the insured for a set period of time (i.e. the term). At the end of the term period, the insurance may end, or you can renew for another term. 
• Term Insurance costs much less than permanent insurance. The shorter the term period, the lower the premium.
• Only pays a death benefit if you die during the term period. If you live beyond the term period, this plan does not pay a death benefit. There is no cash value in the Term Policy.

What is Permanent Insurance?

• Provides permanent protection – coverage until you die.
• Costs more because as long as you continue to pay premiums, this type of insurance will always pay out a death benefit.  
• May have a “cash value” that you may borrow from or redeem if you cancel the policy.  
• Often offers a variety of premium payment options. 
• May offer a variety of additional benefits.