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Life Insurance

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Life insurance Plans

Life insurance plansThere is peace thinking that your family is secured in case of a sudden bad life event is what life insurance plans can offer. It is a financial plan for your family that they can use after your death. Hence, there are different types of life insurance policies being offered to clients like you.

These policies are a binding contract between the insurer and the policyholder. Therefore, you have to pay for a premium either monthly, quarterly, or annually. In case of your sudden death, your beneficiaries will get a tax-free lump sum benefit.

Buying Life Insurance Process

Get A Quote

Choose the term and coverage amount you want


Compare quotes from all of the top-rated companies


Answer a few questions- takes about 10 minutes


Once you start paying your premium the policy will go into effect

How much life insurance do I need

Life Insurance Need Calculator
This calculator will help you to decide how much life insurance you need if your survivors invest the life insurance benefits they receive.

Funeral cost, estate taxes, etc. ($):
Amount needed to pay off non-mortgage debt ($):
Amount needed in emergency fund ($):
Amount needed in college fund ($):
Expected average annual living expenses ($):
Expected spouse's average annual income after taxes ($):
Annual Social Security Benefits ($):
Spouse's current age (#):
Value of current liquid assets ($ total of savings, investments, etc.):
Expected survivor's investment strategy:
Life insurance needs:

Types of Life Insurance

Term life insurance

It is a coverage that only offers security for a definite time. Policies are available for 5, 10, 15, 20, and 25, 30, or more years, depending on the insurer.

types of life insuranceMoreover, it is one of the most cost-efficient choices for life insurance protection without sacrificing the quality of your coverage. The good thing about term life is that it comes with riders and additional benefits.

These are add-ons that you can get along with the policy, like living benefits. This rider will give you access to the death benefits if you become terminally ill and only have 1 or 2 years to live. That is why it’s the best option for those looking for cheaper alternatives to other types of life insurance.

Term insurance is a straightforward policy that is very easy to understand. Hence, it can provide the protection that you want for your family without added cost.


What is whole life insurance

Aside from term life, the best whole life insurance with a cash value is another choice for many when it comes to your family’s ultimate financial security. Hence, it provides the insured a lifetime policy, but take note that it is not the most affordable option. Although expensive, it comes with a cash value that accumulates over time. 

whole life insurance -Coach B. Insurance - UnionAlso, with mutual life insurance companies, dividends are available with an additional face value. While term is like renting, whole life is buying the asset that will increase its value over time, and you own it and pass it on to your beneficiaries.

Universal life insurance

Universal life insurance policyIt is another type of permanent insurance that is very similar to whole life combined with savings and lifetime coverage. For every premium paid, part of it goes to the cash value. Also, the cost of premium paid increases every year, but with universal life insurance, the cash value growth helps cover the cost of the insurance.

Mostly, life policies have a growth rate minimum of 3% to ensure that the money can pay for the policy’s increasing cost.

There is guaranteed universal coverage that acts the same as term life that offers level premiums until age 121 and lesser on the cash value. That is why it is one of the most common choices of older clients who want a lifetime policy with lesser concern about cash value.

Instant issue life insurance

It is a policy that is with no medical examination. Aside from that, there is no long waiting time for the applicant. Once you submit an application form, a decision is made very quickly.

With the help of online technology, it is now possible to instantly write a policy. Likewise, with instant issue coverage, the morning’s request will have an answer by the evening, or even sooner.

instant issue life insuranceNow, it is easier for insurers to calculate the risks of applicants using reports and databases from other life insurance companies in the United States. Therefore, an insurer can go through the underwriting process as fast as possible.

However, it is not the cheapest affordable life insurance option, but it makes it less hassle for insurers with the help of technology. As a result, the price for this type of coverage is decreasing. With the instant issue, those who aim for a quick policy to settle legal issues or business loans are granted.

Guaranteed issue

As the name implies, guaranteed issue offers a policy regardless of your health condition, age, and other factors. Also, known as a guaranteed acceptance policy. Can’t be denied life insurance with this type of policy.

guaranteed issue - coach b. insuranceIt is a type of life insurance for seniors but some insurers offer it to younger generations. It is an expensive life policy type and offers lower death benefits than others. One may get as much as $25,000. When it comes to the underwriting process, it has no medical exam, no questions about medical issues, and has quick approval.

Moreover, people who cannot qualify for a standard life insurance policy usually apply for this type. The only drawback of a guaranteed issue policy is that one could pay more in premiums than what the death benefit will pay. Therefore, we advise clients to consider other life insurance coverage options before deciding on guaranteed issue coverage.

Final expense insurance

final expense life insurance is a type of insurance that can pay either part or the whole amount of the funeral cost. Hence, it offers peace of mind to the bereaved family. There are some with cash value. One can at anytime withdraw cash from the cash value, take out a loan, or increase the death benefit.

Accidental death and dismemberment insurance

accidental death and dismemberment insuranceIt is a straightforward type of coverage and very limited to accidental death. Therefore, insurers will only make payments if the cause of death is by accident. It is also one of the cost-efficient types of life insurance that are the same with a guaranteed issue because there is no medical exam.

Furthermore, this type of insurance is being offered to younger generations like students and those at risk of getting involved with accidents, like regular travelers. Some insurers may also offer a double payout if the accidents occur inside commercial carriers, such as trains, buses, or airplanes.

Return of premium life insurance

return of premium life insuranceIn case you outlive your policy, it will allow you to recover all or part of the premiums paid. Hence, it is one of the least talked about policies in the insurance market. It operates the same as a normal term life policy, except you will be able to get your premium back if you outlive the term. With a regular term policies, policyholders do not have the right to get the premium back if they survive the term.

However, this policy has a higher premium than term life since the company will not keep it after it expires. A higher premium is used to cover the cost of the insurer. At the end of the policy, the return of premium policyholder will get a lump sum payment.

Term vs. Whole-Life Insurance

The policies mentioned above provide security in different levels and ways, but there are two main types of coverage: a Term life and Universal life. The following comparison of both policies:



Term Length

up to 40 years


Coverage Amount

up to $5,000,000

up to $100,000


Least expensive


How Much Does Life Insurance Cost






30 Year Term Life





Universal Life





Reasons Why People Don't Buy Life Insurance

  • Too Expensive
  • Think they don’t need it
  • Dont’ know amount they need
  • Don’t know what type they need
  • Don’t understand it
  • Don’t trust anyone

Coach B. is calling BS on this one and dismisses these myths:  Sorry folks the Coach inside me is coming out now.  Call it like I see type Coach!

Only 3 Reasons Why You Don't Buy Life Insurance

Is life insurance worth it

And that’s OK.  I wanted a Cadillac model too.  But settled for a good Chevy model.  The Chevy at least provides something for the family until you can get the Cadillac.

Should I get life insurance

And that’s OK too.  It’s hard to understand all the products available today.  That’s why I’m here.  To make it easy for you.

should I buy life insurance

And this is OK as well.  I hear this from every person or family I ever talk to.  If your thinking about it- then you know there is a problem!

What 30 Years In This Business Has Taught Me

I can’t help you build a Chevy or a Cadillac if you don’t ask me for some help.  I don’t control what the insurance company charges nor do I control your budget.  But I will do a fantastic job trying to build something that will fit that budget and get you some coverage as well.

I can’t help you understand it if you don’t ask me for some help.  

After 30 years I know when someone tells me they are not going to make a decision tonight but they want to think about it. That only means they don’t trust me, they can’t afford it, or they don’t understand it.  All of those mean I have done a poor job explaining everything and that’s on me. (Doesn’t happen often).  But also know if you go with I want to think about it you have just made a decision to go to bed again tonight hoping nothing happens.

7 times I have seen families lose everything because they had to think about it!  We all know what that means.  Anyways, 1 was too many.  Please don’t be number 8!  Again, can’t help unless you ask?  Hit the Button!

Questions About Life Insurance

What is life insurance quotes

life insurance quotes onlineAn online life insurance quote is the easiest way to compare the prices of several insurance providers in the market. It gives clients the idea of the cost for all types of life insurance policies you want to get, like term life, whole life, guaranteed issue, and final expense.

Premiums may increase or decrease depending on several factors, such as age, coverage amount, health status, and length of coverage.

Why get life insurance online

life insurance onlineIn the past, purchasing life insurance policies requires face to face meeting. Today’s top trends is moving to online technology that has made the application process easier. Using your computer or even a mobile phone with an internet connection, you can secure your family’s future.

Therefore, in a matter of days or weeks, you can get the life insurance online policy that you need. Consequently, it allows applicants to compare prices from diverse insurers all at once. At Coach B. Insurance you can compare 50+ companies to ensure that you only get the best coverage for you and your family, unlike state farm life insurance or guardian life insurance that limits you to just their products.

What is Term life insurance

It is a type of policy that offers coverage for a specific time, like 5, 10, 15, 20, or 30 years. If you think of this policy as an option, we recommend that you consider a term with a guaranteed death benefit. If you have questions about term life insurnce, you may go to the Term Life Insurance Page

Average cost for Term life insurance

20 year term policy with $100,000 in coverage
















When to buy term life insurance

Buy term life insuranceTypically, people choose term life insurance because it is far more affordable than other types of insurance. Another reason is if the need for life insurance is just temporary and if alternatives like whole life do not match their budget.

Hence, dollar-for-dollar you will get more death benefit with term life. Which means that it offers more insurance value for the cost making it the best type for someone who is on a tight budget.

If you are someone who wants to cover outstanding financial liabilities like loans, debts, mortgages, and other expenses, then term life is for you. It safeguards your family financially in case of your early death. 

The best life insurance companies

best companies for life insuranceNot all insurers are equal, as each provider has its policies and guidelines. Hence, the best company is the one that can meet your specific needs and budget. Some providers may have very strict rules when it comes to health conditions and other behaviors. Others are more competitive than other companies, so they are more lenient.

Also, it is not always the price that is important when deciding on the best insurance providers. That is why it is better to talk to an expert independent agent like Coach B. We can help you discover your perfect match that offers the highest quality of coverage for the least price possible. 

Can a company cancel my term life insurance policy

The only reason for cancelation of any policy is miss payments of the monthly premium. Keep in mind that changes in job or health conditions are not a valid reason to cancel a policy. For as long the client is making timely payments, then the policy will push through.

However, if the term life policy is through an employer, organization, or other institutions, then coverage can be terminated if you are no longer connected with them. 

What is indexed universal life insurance

Universal life insurance policyUniversal Life Insurance is very similar to the whole life policy. Both policies have cash value and death benefit, but the universal is more flexible by changing the death benefit and premium allowed. On the other hand, the whole life is set and fixed compared to universal life. 

Difference between term and whole life insurance policy

term vs whole life insuranceSome experts say that the best way to difference between term and whole life is through “renting and owning.” Therefore, with a term policy, you are just renting the policy for a specific time 10,15, or 30 years; while the whole life policy, you are buying the policy for a lifetime. In short, whole life is an asset similar to buying a house.

Term is like Renting a house that offers cheaper options.  However, neither option of the two is better than the other. It depends on the individual needs and capacity to pay for the monthly premium. 

How come companies like Allstate and State Farm aren’t listed

Insurance providers such as Farmers, States Farm, Allstate and USAA, and others offer great insurance packages, but agents working for them are exclusive or captive agents. It means that they cannot talk about and recommend other products than what is provided by their company.

Independent insurance agencies like Coach B. Insurance can provide clients assistance by providing information about different insurers that meet individual needs. We are working with top-rated insurers to help you look for the best coverage that fits your needs. In short, we are working for our client and not for a particular insurance company.

How do I know which life insurance company is right for me

There is a possibility to change the premium depending on the type of term life coverage. Talking with a Coach B. agent will provide you with the information you need before buying any policy. Term life policies are very competitive in terms of premiums, so it is essential to know everything about it. 

How can I determine what a good life insurance company is

Clients are looking at two important areas as they decide on the best insurer, such as:

  • Customer service
  • Reputation in making payments for death benefits quickly

Customer service is an essential consideration in deciding on an insurer. First, find out of the company offers online customer service and a technical support team. Also, it is important to go for a company that answers questions promptly. You will deal with them for many years, so it is better to choose a company that values its clients. 

A claim is another factor that should be taken to consideration by clients. The reputation of the company should be good at giving timely payment for claims. Above all, make sure that your family is in good hands and will get the benefit on time. What is good with paying for the cheapest premium if they may not payoff after your death. 

Frequently Asked Questions

What are the 3 main types of life insurance?

The three main types of life insurance are term life insurance, whole life insurance, and universal life insurance. Term life insurance provides coverage for a set amount of time and has no cash value. Whole life insurance provides coverage for your lifetime, builds cash value over time, and is generally more expensive than term. Universal life insurance combines term and whole life, allowing flexibility on premium payments while making cash value.

At what age is life insurance worth it?

While love and life insurance are essential for protecting our families, the right time to buy a policy depends on your age and financial situation. Generally speaking, life insurance is worth considering at any age — especially if you are married or have dependents that rely on your income. However, most experts recommend starting to think about life insurance when you reach adulthood, as this helps you lock in lower rates based on your stability and health.

What is the purpose of having life insurance?

Life insurance is to provide financial security to your family and loved ones in the event of your death. Life insurance can help pay for funeral costs, estate taxes, debts, and other expenses. It can also help maintain a standard of living if a loved one's income is lost due to the insured person's death.

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