What Is a Modified Endowment Contract blog header image

What is a modified endowment contract? If you’re shopping for a cash value life insurance policy like participating whole life insurance, you may have heard of the term “modified endowment contract” or “MEC” and how it can strip your insurance policy of certain tax advantages. Pay too much into yourContinue Reading

What Is Modified Life Insurance blog header image

Modified whole life insurance, also called modified premium life insurance, is a type of permanent insurance coverage that charges lower premiums than a regular whole life policy in the first 5-10 years. After 5-10 years, policy premiums go up and typically cost more than a regular whole life policy. InContinue Reading

Life Insurance as a Bank blog header image

Life insurance as a bank? If you’ve never considered the living benefits of a life insurance policy, you’re not alone. The majority of people who purchase life insurance do it for the death benefit. So, it might surprise you to learn that you can use certain types of life insuranceContinue Reading

Limited Pay Life Insurance Blog Header

Limited pay life insurance is a type of whole life insurance policy that is structured to only owe premiums for a set number of years. In other words, rather than paying your insurance premiums in perpetuity, you agree to pay them in full over a pre-specified time. With the limitedContinue Reading

Final Expense Insurance blog header image

Final expense insurance is a type of life insurance designed to cover funeral and burial costs, plus other end-of-life expenses. Most people don’t want to leave loved ones with the financial burden of paying for a funeral or dealing with medical bills, and final expense insurance is marketed to coverContinue Reading

No Medical Exam Life Insurance blog header photo

Let’s face it. No one likes going to the doctor. It’s no wonder why people search for no-medical exam life insurance when shopping around for a policy.  In some instances, like if you have certain pre-existing health conditions, a no-medical exam policy can help you get coverage you might notContinue Reading

Critical Illness Insurance blog header image

Critical illness insurance pays out a tax-free cash sum while you’re living if you meet certain health criteria. Not quite health insurance and not quite traditional life insurance, it can help individuals cover health expenses or enjoy a better quality of life while living with certain illnesses or medical conditions.Continue Reading