Life Insurnace

Final Expense Insurnace

What is Final Expense?

Final expense, also known as burial insurance, is a type of whole life insurance that is available to those who don’t qualify for traditional life insurance. These plans are smaller than other life insurance policies, only offering up to $50,000 in coverage. In general, these plans were not designed to serve as income replacement for your beneficiaries, but were created with your end-of-life expenses in mind. These expenses can include your funeral costs, medical bills, or other small debts that may be left to your loved ones.

Get a Quote

Secure your future with Abundant Life Insurance

What is an IUL Insurance Policy?

An Indexed Universal Life (IUL) insurance policy is a type of permanent life insurance that offers flexible premiums, lifelong coverage, and a cash value component that can grow over time based on the performance of a stock market index (like the S&P 500).

An Indexed Universal Life (IUL) insurance policy is a type of permanent life insurance that offers flexible premiums, lifelong coverage, and a cash value component that can grow over time based on the performance of a stock market index (like the S&P 500).

Key Features of an IUL Policy:

1. Lifelong Death Benefit

As long as you keep the policy active, your loved ones receive a tax-free death benefit when you pass away.

2. Cash Value Growth

Part of your premium goes into a cash value account. This money can grow based on how a stock market index performs—but your money isn’t directly invested in the stock market.

If the market does well, your cash value can grow.
If the market drops, your account won’t lose money thanks to a guaranteed floor (often 0%).

3. Tax-Advantaged Growth

Your cash value grows tax-deferred, meaning you don’t pay taxes on gains as they accumulate. You can access the money tax-free through policy loans or withdrawals, if structured properly.

4. Flexible Premiums

You can adjust how much you pay over time (within limits), depending on your needs and financial situation.

5. Retirement & Legacy Planning

Many use IULs for supplemental retirement income, college funding, or to leave a legacy to heirs or a charity.

Pros of an IUL Policy:

Tax-free death benefit
Potential for higher returns than traditional whole life
Protection from market losses
Flexible contributions and benefits
Tax-free access to cash value (if structured properly)

Cons to Consider:

Costs and fees can be complex
Returns are capped (there’s usually a cap rate, limiting max growth)
Misuse of policy loans can reduce death benefit or lapse the policy
Requires discipline to fund properly over time

Who is it good for?

An IUL may be a good fit for someone who:

Wants lifelong protection
Likes the idea of market-linked growth with downside protection
Needs flexibility in payments
Wants to build a tax-free income stream for the future

Protect What Matters Most

What is Term Life Insurance?

Term Life Insurance is a simple, affordable type of life insurance that provides coverage for a set period of time—usually 10, 15, 20, or 30 years. If you pass away during that time, your loved ones receive a tax-free death benefit.

It’s designed to protect your family during the years they need it most—like when you're paying off a mortgage, raising children, or building financial stability.

Key Features:

1. Fixed Term Coverage

Coverage lasts for a specific number of years (the “term”). Once the term ends, the coverage stops unless you renew or convert it.

2. Low Cost

Term policies typically have lower monthly premiums than permanent life insurance—making it a cost-effective way to get high coverage amounts.

3. Tax-Free Death Benefit

If you pass away during the term, your beneficiary receives a lump sum payment they can use for:

Mortgage or rent
Funeral expenses
Replacing lost income
Paying off debts
College tuition

4. No Cash Value

Unlike Whole Life or IUL policies, Term Life has no cash value component. It’s pure protection.

Pros of Term Life:

Affordable premiums
Simple to understand
High coverage amounts available
Great for short- to medium-term needs

Things to Consider:

Coverage ends when the term ends
No cash value or savings benefit
Premiums can rise significantly if you renew after the term

Who is it for?

Term Life is ideal for:

Young families on a budget
People with temporary financial responsibilities
Homeowners with a mortgage
Anyone wanting maximum coverage at a low cost

Protect your family with Abundant Life Insurance

Life Insurance