Start with the need, not the product.
Life insurance can help replace income, pay a mortgage, fund education, cover final expenses, support a business transition or create a legacy. The right type and amount of coverage depend on the goal, how long it needs to last and what fits comfortably within your budget.
Scott’s role is to help you see those tradeoffs clearly, understand what each policy is designed to do and choose a path you can feel confident maintaining.
Types of life insurance
Term life
Coverage for a set period, often 10, 20 or 30 years. It can be a cost-efficient choice for income replacement, a mortgage or other time-bound obligations.
Whole life
Permanent coverage with level premiums and guaranteed cash value growth when premiums are paid as required, subject to policy terms.
Universal life
Permanent coverage with flexible premium and death-benefit options. Policy performance, funding and charges should be reviewed over time.
Indexed universal life
A form of universal life whose interest-crediting strategy references a market index, with caps, floors and participation terms set by the policy, not direct market investment.
What should the conversation cover?
- People and obligations: who relies on your income and for how long.
- Current resources: savings, workplace benefits and coverage already in force.
- Future goals: education, debt, business continuity or legacy planning.
- Budget and flexibility: what you can maintain through changing seasons of life.
- Health and underwriting: how age, medical history and lifestyle may affect options and cost.
When should coverage be reviewed?
It is worth revisiting life insurance after major changes such as marriage, a new child, a home purchase, a new business, a meaningful change in income or an approaching retirement. Even without a major event, a periodic review can help confirm that beneficiaries, ownership and coverage still match your intent.
Life insurance FAQs
Is employer-provided life insurance enough?
It can be a valuable benefit, but workplace coverage may be limited and may not follow you when you change jobs. Compare the benefit with the income and obligations your household would need to replace.
Does permanent life insurance always build cash value?
Many permanent policies can build cash value, but guarantees and non-guaranteed values differ by policy. Loans or withdrawals can reduce cash value and the death benefit and may create tax consequences or cause the policy to lapse.
Do I need a medical exam?
Not always. Some policies use accelerated or simplified underwriting, while others require an exam. The right path depends on the amount of coverage, carrier requirements and your health history.