Life Insurance Options
Frequently asked questions
- Life insurance means you're helping prepare your loved ones for the unexpected — a thoughtful and appreciated gesture.
- It's designed to help growing financial commitments like day-to-day expenses, a mortgage, debt payments, and even aspirational promises like college costs for your kids.
- It can help your family cover financial expenses.
- It can provide a way to leave money to charity.
- Whole life policies build some cash value you may be able to borrow against in the future. Any outstanding loan balance is subtracted from the payment your beneficiary receives.
Term Life Insurance
- can provide affordable, high-dollar coverage for a specific period of time (or term).
- pays a benefit if you die during the term.
- could have benefits and premiums that change over time, depending on the specific policy.
Whole Life Insurance
- has rates that remain the same throughout your lifetime.
- could provide a future source of money prior to your death, building cash value over time.
- allows for loans (which incur interest) against the value, with unpaid amounts decreasing the death benefit.
Guaranteed Acceptance Whole Life
- offers all the benefits of whole life (limited in the first two years).
- guarantees your acceptance, with no health questions or medical exam, regardless of your health.
- provides instant coverage with your first payment.
Any amount of coverage can make a difference for your family. Of course, everyone’s needs are different, and a licensed TruStage agent can help you decide what makes sense for your family.